Nuveen California Select Tax-Free Income Portfolio (NYSE:NXC) Sees Significant Increase in Short Interest

Nuveen California Select Tax-Free Income Portfolio (NYSE:NXC) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 7,405 shares, a growth of 23.2% from the November 30th total of 6,011 shares. Based on an average daily trading volume, of 20,676 shares, the short-interest ratio is currently 0.4 days. Based on an average daily trading volume, of 20,676 shares, the short-interest ratio is currently 0.4 days.

Hedge Funds Weigh In On Nuveen California Select Tax-Free Income Portfolio

Several institutional investors and hedge funds have recently made changes to their positions in the business. Guggenheim Capital LLC increased its stake in shares of Nuveen California Select Tax-Free Income Portfolio by 2.1% in the second quarter. Guggenheim Capital LLC now owns 144,966 shares of the company’s stock worth $1,909,000 after buying an additional 2,926 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Nuveen California Select Tax-Free Income Portfolio by 65.1% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 38,255 shares of the company’s stock valued at $496,000 after acquiring an additional 15,082 shares during the last quarter. Wedbush Securities Inc. grew its holdings in Nuveen California Select Tax-Free Income Portfolio by 19.5% during the 3rd quarter. Wedbush Securities Inc. now owns 24,230 shares of the company’s stock worth $314,000 after acquiring an additional 3,953 shares in the last quarter. Equitable Holdings Inc. bought a new stake in shares of Nuveen California Select Tax-Free Income Portfolio in the 3rd quarter worth about $165,000. Finally, Caprock Group LLC bought a new stake in shares of Nuveen California Select Tax-Free Income Portfolio in the 3rd quarter worth about $149,000. 11.89% of the stock is currently owned by hedge funds and other institutional investors.

Nuveen California Select Tax-Free Income Portfolio Stock Performance

NXC stock traded up $0.01 during trading on Wednesday, reaching $13.17. The stock had a trading volume of 38,936 shares, compared to its average volume of 20,873. The firm has a fifty day moving average price of $13.20 and a 200 day moving average price of $13.01. Nuveen California Select Tax-Free Income Portfolio has a 1-year low of $12.41 and a 1-year high of $13.45.

Nuveen California Select Tax-Free Income Portfolio Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a dividend of $0.043 per share. The ex-dividend date is Monday, December 15th. This represents a c) annualized dividend and a yield of 3.9%.

About Nuveen California Select Tax-Free Income Portfolio

Nuveen California Select Tax-Free Income Portfolio (NYSE: NXC) is a closed-end management investment company that seeks to provide investors with a high level of current income exempt from federal regular and California personal income taxes. The fund primarily invests in municipal securities issued by the state of California and its political subdivisions, including general obligation bonds, revenue bonds and other public financings. By focusing on California‐issued tax-exempt obligations, the portfolio aims to deliver a tax‐advantaged yield profile for individual and institutional shareholders with exposure to the state’s credit quality.

The portfolio’s investment strategy emphasizes a diversified mix of investment-grade and below investment-grade municipal securities across various sectors such as transportation, utilities, healthcare and education.