Nuveen Select Tax-Free Income Portfolios Announce Proposed Reorganizations and Shareholder Meeting Update
Written by Emily J. Thompson, Senior Investment Analyst
Source: Newsfilter
Reorganization Proposal: The Boards of Trustees for Nuveen's tax-free income portfolios (NXC, NXN, NXP) have proposed a reorganization to merge NXC and NXN into NXP, aiming to lower operating expenses and increase trading volume, pending shareholder approval at their 2025 Annual Meetings.
Shareholder Participation: Shareholders can submit proposals for consideration at the meetings by specific deadlines, with detailed information about the reorganizations and board member candidates to be provided in upcoming proxy materials.
Analyst Views on NXC
Wall Street analysts forecast NXC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NXC is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 13.290
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Current: 13.290
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About NXC
Nuveen California Select Tax-Free Income Portfolio (the Fund) is a diversified closed-end management investment company. The Fund's investment objectives are to provide current income exempt from regular federal and California income tax and to enhance portfolio value relative to the municipal bond market by investing in tax-exempt municipal bonds that the Fund's investment adviser believes are underrated or undervalued or that represent municipal market sectors that are undervalued. The Fund invests 80% of its assets in municipal securities and other related investments that pay interest exempt from federal and California income taxes. The Fund may invest up to 20% of its managed assets in municipal securities. The Fund's portfolio includes its investments in various industry sectors, such as health care, education and civic organizations, consumer staples, housing/multifamily, transportation, and others. The Fund's investment advisor is Nuveen Fund Advisors, LLC.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
