In a notable performance, Nuveen California Select Tax-Free Income Portfolio (NXC) stock has reached a 52-week high, trading at $14.05. This peak reflects a significant uptrend for the closed-end fund, which specializes in tax-free income, primarily from California municipal bonds. Over the past year, NXC has seen an encouraging 1-year change, with an 8.36% increase in its value. This rise is indicative of investors' growing confidence in the fund's management and the underlying assets, despite the broader market's fluctuations and economic uncertainties. The 52-week high milestone is a testament to the fund's resilience and the appeal of tax-free income investments in a volatile interest rate environment.
InvestingPro Insights
In light of Nuveen California Select Tax-Free Income Portfolio's (NXC) recent achievement of a 52-week high, a closer look at some key metrics and InvestingPro Tips reveals a deeper understanding of the fund's current position. With a market capitalization of $88.24 million and a P/E ratio of 17.32, NXC stands out for its stability, as indicated by its low price volatility. This is an important consideration for investors looking for steady performance in their portfolios.
From a financial standpoint, NXC's revenue growth over the last twelve months as of Q4 2024 shows a modest increase of 4.07%, with a quarterly growth of 1.57%. This indicates a consistent, if not rapid, expansion in the fund's financial scope. Additionally, the fund has maintained its commitment to shareholders by distributing dividends for 33 consecutive years, boasting a dividend yield of 3.94% as of the last payment in August 2024. This consistency in dividend payments underscores NXC's reliability as an income-generating investment.
Investors considering NXC will find additional insights with InvestingPro Tips, such as the fund's strong liquidity position, with liquid assets surpassing short-term obligations, and its profitability over the last twelve months. For those interested in exploring further, there are additional InvestingPro Tips available, offering a more comprehensive analysis of NXC's performance and potential. Visit https://www.investing.com/pro/NXC for an extended list of tips and insights.
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