Traders Are Bearish Nuveen Select Tax-Free Income Portfolio (NXP) After The Stock Formed Bearish Head & Shoulders

January 13, 2018 - By Marguerite Chambers

Investors sentiment decreased to 0.87 in 2017 Q3. Its down 0.21, from 1.08 in 2017Q2. It dived, as 7 investors sold Nuveen Select Tax-Free Income Portfolio shares while 8 reduced holdings. 5 funds opened positions while 8 raised stakes. 1.40 million shares or 6.70% less from 1.50 million shares in 2017Q2 were reported.
Winslow Evans And Crocker Incorporated accumulated 300 shares. Vantage Inv Advisors Limited holds 1,000 shares or 0% of its portfolio. Parametric Associates Lc accumulated 32,973 shares. King Luther Cap Mngmt has 16,850 shares. Wells Fargo & Mn reported 0% of its portfolio in Nuveen Select Tax-Free Income Portfolio (NYSE:NXP). Van Eck invested in 46,842 shares. Hightower Advisors Limited Liability Corp holds 10,072 shares. Manufacturers Life Insurance The owns 0% invested in Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) for 1,300 shares. 24,197 were reported by Commonwealth Equity Serv Incorporated. Tortoise Management Ltd Liability owns 137,924 shares. Lpl Limited Liability stated it has 99,057 shares. First Savings Bank And Co Of Newtown holds 34,800 shares. Thomas J Herzfeld Advsrs, a Florida-based fund reported 15,655 shares. Oakworth Capital holds 0.01% in Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) or 2,175 shares. Washington-based Washington Fincl Bank has invested 0.01% in Nuveen Select Tax-Free Income Portfolio (NYSE:NXP).

The stock of Nuveen Select Tax-Free Income Portfolio (NXP) formed H&S with $13.38 target or 8.00 % below today’s $14.54 share price. The 5 months Head & Shoulders indicates high risk for the $240.93 million company. It was reported on Jan, 13 by Faxor.com. If the $13.38 price target is reached, the company will be worth $19.27 million less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

The stock decreased 0.75% or $0.11 during the last trading session, reaching $14.54. About 29,427 shares traded or 13.17% up from the average. Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) has declined 3.42% since January 13, 2017 and is downtrending. It has underperformed by 20.12% the S&P500.

More important recent Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) news were published by: Nasdaq.com which released: “Nuveen Select Tax Free Income Portfolio III (NXR) Ex-Dividend Date Scheduled …” on November 13, 2017, also Nasdaq.com published article titled: “Nuveen Select Tax Free Income Portfolio III (NXR) Ex-Dividend Date Scheduled …”, Seekingalpha.com published: “NXQ: Better Than Cash?” on September 07, 2017. More interesting news about Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) was released by: Nasdaq.com and their article: “Nuveen Select Tax Free Income Portfolio III (NXR) Ex-Dividend Date Scheduled …” with publication date: January 10, 2018.

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