Nuveen Sl Tfip (NYSE:NXP) Sees Strong Trading Volume – Should You Buy?

Shares of Nuveen Sl Tfip (NYSE:NXP) saw unusually-strong trading volume on Friday. 391,482 shares changed hands during mid-day trading, an increase of 145% from the previous session’s volume of 159,638 shares. The stock last traded at $12.9490 and had previously closed at $12.95.

Nuveen Sl Tfip Stock Performance

The firm’s 50 day simple moving average is $14.06 and its 200 day simple moving average is $14.21.

Nuveen Sl Tfip Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.0535 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.64 dividend on an annualized basis and a yield of 4.9%.

Hedge Funds Weigh In On Nuveen Sl Tfip

Several institutional investors have recently bought and sold shares of NXP. World Investment Advisors increased its position in shares of Nuveen Sl Tfip by 4.7% in the 1st quarter. World Investment Advisors now owns 20,722 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 926 shares during the last quarter. D.A. Davidson & CO. grew its stake in Nuveen Sl Tfip by 20.7% in the first quarter. D.A. Davidson & CO. now owns 14,778 shares of the financial services provider’s stock worth $212,000 after purchasing an additional 2,530 shares in the last quarter. Wedbush Securities Inc. grew its stake in Nuveen Sl Tfip by 4.1% in the second quarter. Wedbush Securities Inc. now owns 73,793 shares of the financial services provider’s stock worth $768,000 after purchasing an additional 2,931 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in Nuveen Sl Tfip in the second quarter valued at about $45,000. Finally, Bayban bought a new stake in Nuveen Sl Tfip in the fourth quarter valued at about $62,000. 16.17% of the stock is owned by hedge funds and other institutional investors.

About Nuveen Sl Tfip

Nuveen Select Tax-Free Income Portfolio is a closed-end management investment company listed on the New York Stock Exchange under the symbol NXP. The fund seeks to provide current income that is exempt from regular federal income tax, while also pursuing long-term preservation of capital.

The portfolio invests primarily in municipal securities issued by state and local governments, public authorities and other governmental entities throughout the United States. These securities may help finance public infrastructure and services, including schools, transportation systems, utilities, hospitals and housing projects.