The Nuveen Select Tax-Free IncomeThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... Portfolio $NXP fund has confirmed a Resurrection CrossWhen the 50 day moving average crosses above the 200 day moving average, it is called a Resurrection Cross. Conversely, when the 50 day moving average crosses below the 200 day mov... and is in a technical strong uptrend.
Investment company Coastal Investment Advisors bought Nuveen Select Tax Free Income Portfolio according to the most recent filings of the investment company as of Q4 2021.
The investment goal of the Fund is current income that is not subject to regular federal income tax while maintaining capital. The fund makes investments in municipal securities with investment-grade ratings of Baa and BBB or higher. It compares the performance of its portfolio to the Lipper General and Insured Unleveraged Municipal Debt Funds Average and Standard and Poor’s National Municipal Bond Index.
NXP offers investors a 4% yield on its $639m in total managed assets.
NXP and NID, in contrast to some Nuveen Municipal Bond funds, hold a significantly smaller number of assets and have durations that are half as long as the majority. These shorter periods help to account for their superior performance as rates began to rise over the previous year. The 33 percent allocation to zero-coupon bonds helps to offset some of that because, when interest rates rise, the price of a zero-coupon bond will fall more than the price of a regular coupon bond.
The top two sectors, bonds dependent on tax receipts, account for more than 47% of NXP’s bond exposure. If there is another wave of lockdowns, the income sources for the next two sectors, Transportation and Health Care, which together make up more than 28% of the portfolio, could be harmed. Having said that, the portfolio’s credit quality is excellent. The portfolio of NXP is rated “A+” on average by Morningstar.