Short Interest in Nuveen Select Tax-Free Income Portfolio 3 (NYSE:NXR) Rises By 29.8%

Nuveen Select Tax-Free Income Portfolio 3 (NYSE:NXR) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 39,200 shares, an increase of 29.8% from the March 31st total of 30,200 shares. Based on an average daily volume of 21,500 shares, the days-to-cover ratio is currently 1.8 days.

Shares of NXR stock traded down $0.10 during trading hours on Tuesday, reaching $17.11. The company had a trading volume of 19,751 shares, compared to its average volume of 22,039. The company has a 50 day moving average of $17.00 and a 200 day moving average of $16.88. Nuveen Select Tax-Free Income Portfolio 3 has a 1-year low of $14.96 and a 1-year high of $19.25.

The firm also recently disclosed a monthly dividend, which was paid on Monday, May 3rd. Investors of record on Thursday, April 15th were paid a dividend of $0.0465 per share. This represents a $0.56 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Wednesday, April 14th. This is an increase from Nuveen Select Tax-Free Income Portfolio 3’s previous monthly dividend of $0.04.

Institutional investors have recently modified their holdings of the stock. Morgan Stanley increased its holdings in Nuveen Select Tax-Free Income Portfolio 3 by 7.1% during the 3rd quarter. Morgan Stanley now owns 116,347 shares of the investment management company’s stock worth $1,908,000 after purchasing an additional 7,672 shares in the last quarter. Raymond James Trust N.A. grew its holdings in Nuveen Select Tax-Free Income Portfolio 3 by 13.3% during the fourth quarter. Raymond James Trust N.A. now owns 12,832 shares of the investment management company’s stock worth $224,000 after purchasing an additional 1,510 shares during the period. Kestra Advisory Services LLC bought a new position in Nuveen Select Tax-Free Income Portfolio 3 during the fourth quarter worth about $216,000. Penbrook Management LLC bought a new position in Nuveen Select Tax-Free Income Portfolio 3 during the fourth quarter worth about $52,000. Finally, LPL Financial LLC grew its holdings in Nuveen Select Tax-Free Income Portfolio 3 by 6.7% during the fourth quarter. LPL Financial LLC now owns 17,337 shares of the investment management company’s stock worth $303,000 after purchasing an additional 1,089 shares during the period.

About Nuveen Select Tax-Free Income Portfolio 3

Nuveen Select Tax-Free Income Portfolio 3 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 seeks to invest in stocks of companies operating across the diversified sectors.

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