Melfa Wealth Management Inc. Trims Stake in Nuveen Select Tax-Free Income Portfolio (NYSE:NXP)

Melfa Wealth Management Inc. cut its stake in shares of Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) by 9.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 90,037 shares of the financial services provider’s stock after selling 9,843 shares during the period. Nuveen Select Tax-Free Income Portfolio comprises about 0.9% of Melfa Wealth Management Inc.’s investment portfolio, making the stock its 25th biggest position. Melfa Wealth Management Inc. owned approximately 0.19% of Nuveen Select Tax-Free Income Portfolio worth $1,364,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Icon Wealth Advisors LLC purchased a new position in shares of Nuveen Select Tax-Free Income Portfolio during the 3rd quarter valued at about $32,000. Sanctuary Advisors LLC bought a new stake in Nuveen Select Tax-Free Income Portfolio during the 2nd quarter worth approximately $161,000. Bank of New York Mellon Corp purchased a new position in Nuveen Select Tax-Free Income Portfolio during the second quarter valued at approximately $249,000. B. Riley Wealth Advisors Inc. boosted its position in shares of Nuveen Select Tax-Free Income Portfolio by 101.4% in the second quarter. B. Riley Wealth Advisors Inc. now owns 21,497 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 10,824 shares during the period. Finally, Capital Advisors Wealth Management LLC increased its stake in shares of Nuveen Select Tax-Free Income Portfolio by 31.4% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 26,756 shares of the financial services provider’s stock worth $405,000 after purchasing an additional 6,390 shares in the last quarter. Institutional investors own 16.17% of the company’s stock.

Nuveen Select Tax-Free Income Portfolio Stock Performance

NXP opened at $14.83 on Wednesday. The firm’s fifty day moving average is $14.80 and its 200 day moving average is $14.83. Nuveen Select Tax-Free Income Portfolio has a fifty-two week low of $13.79 and a fifty-two week high of $15.25.

Nuveen Select Tax-Free Income Portfolio Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be paid a $0.052 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date is Wednesday, January 15th.

Nuveen Select Tax-Free Income Portfolio Company Profile

Nuveen Select Tax-Free Income Portfolio is a closed-ended fixed income mutual fund launched by Nuveen Investments Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of United States. The fund invests in the investment-grade municipal securities rated Baa and BBB or better.