Welcome to our dedicated page for NUVEEN SELECT TAX-FREE news (Ticker: NXP), a resource for investors and traders seeking the latest updates and insights on NUVEEN SELECT TAX-FREE stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect NUVEEN SELECT TAX-FREE's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of NUVEEN SELECT TAX-FREE's position in the market.
Nuveen Select Tax-Free Income Portfolio (NYSE: NXP) has announced a monthly distribution of $0.0455 per share, following its reorganization with Nuveen Select Tax-Free Income Portfolio 2 (NYSE: NXQ) and 3 (NYSE: NXR). The record date for this distribution is January 18, 2022, and it will be payable on February 1, 2022. This declaration marks the first regular monthly distribution since the portfolios were successfully merged on December 6, 2021. Nuveen, managing $65 billion across 62 closed-end funds, aims to provide income-focused investment solutions.
The reorganization of Nuveen Select Tax-Free Income Portfolio 2 (NYSE: NXQ) and Nuveen Select Tax-Free Income Portfolio 3 (NYSE: NXR) into Nuveen Select Tax-Free Income Portfolio (NYSE: NXP) was successfully completed on December 6, 2021. This tax-free transaction involved NXP acquiring the assets and liabilities of NXQ and NXR in exchange for newly issued common shares of NXP. The exchange ratios were 0.95219330 for NXQ and 1.02072336 for NXR based on the respective net assets on December 3, 2021. Nuveen manages $65 billion across 62 closed-end funds as of September 30, 2021.
Nuveen's shareholders have approved the merger of Nuveen Select Tax-Free Income Portfolio 2 (NXQ) and Nuveen Select Tax-Free Income Portfolio 3 (NXR) into Nuveen Select Tax-Free Income Portfolio (NXP). This reorganization is set to take effect on December 6, 2021, pending standard closing conditions. The monthly distributions will transition with pre-reorganization distributions declared on November 23, 2021, and record dates established prior to the merger. Nuveen manages $65 billion across 62 closed-end funds as of September 30, 2021.
The Boards of Trustees of Nuveen Select Tax-Free Income Portfolio (NYSE: NXP), Nuveen Select Tax-Free Income Portfolio 2 (NYSE: NXQ), and Nuveen Select Tax-Free Income Portfolio 3 (NYSE: NXR) have approved a proposal to reorganize the funds. This reorganization aims to merge NXQ and NXR into NXP, creating a larger fund with lower operating expenses and increased trading volume. Approval from shareholders is required, and proxy materials with detailed information will be filed soon.
FAQ
What is the current stock price of NUVEEN SELECT TAX-FREE (NXP)?
What is the market cap of NUVEEN SELECT TAX-FREE (NXP)?
