Nuveen California Select Tax-Free Income Portfolio (NYSE:NXC) Trading Up 0.2% – Still a Buy?

Shares of Nuveen California Select Tax-Free Income Portfolio (NYSE:NXC) rose 0.2% during trading on Thursday . The company traded as high as $13.30 and last traded at $13.2940. 76,961 shares were traded during trading, an increase of 153% from the average daily volume of 30,403 shares. The stock had previously closed at $13.27.

Nuveen California Select Tax-Free Income Portfolio Price Performance

The firm has a 50 day moving average price of $13.24 and a two-hundred day moving average price of $13.08.

Nuveen California Select Tax-Free Income Portfolio Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a dividend of $0.043 per share. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Monday, December 15th.

Institutional Investors Weigh In On Nuveen California Select Tax-Free Income Portfolio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Guggenheim Capital LLC raised its position in 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 acquiring an additional 2,926 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in Nuveen California Select Tax-Free Income Portfolio by 65.1% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 38,255 shares of the company’s stock worth $496,000 after acquiring an additional 15,082 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Nuveen California Select Tax-Free Income Portfolio by 24.1% in the third quarter. Jones Financial Companies Lllp now owns 6,489 shares of the company’s stock worth $84,000 after purchasing an additional 1,262 shares during the last quarter. Caprock Group LLC purchased a new position in Nuveen California Select Tax-Free Income Portfolio in the third quarter worth $149,000. Finally, Wedbush Securities Inc. increased its position in shares of 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 valued at $314,000 after purchasing an additional 3,953 shares during the last quarter. Hedge funds and other institutional investors own 11.89% of the company’s stock.

Nuveen California Select Tax-Free Income Portfolio Company Profile

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.