In a buoyant trading session, Nuveen California Select Tax-Free Income Portfolio (NXC) stock soared to a 52-week high, reaching a price level of $14.07. This milestone reflects a significant recovery and investor confidence in the fund's performance, which has seen a commendable 1-year change, climbing 10.72%. The ascent to the 52-week high underscores the fund's resilience and the favorable response to its tax-free income strategy, even as the broader market navigates through economic uncertainties. Investors are closely monitoring NXC as it sustains its upward trajectory, bolstered by strong fiscal policies and a supportive economic environment in California.
InvestingPro Insights
In light of Nuveen California Select Tax-Free Income Portfolio's (NXC) recent ascent to a 52-week high, a closer look at the fund's financial health and market performance could provide investors with additional context. According to InvestingPro data, NXC boasts a market capitalization of $89.39 million and maintains a P/E ratio of 17.52, reflecting its profitability over the last twelve months as of Q4 2024. With a dividend yield of 3.91%, NXC has demonstrated a commitment to shareholder returns, having maintained dividend payments for an impressive 33 consecutive years—an InvestingPro Tip that signals reliability in income generation for investors.
Another InvestingPro Tip notes that the stock generally trades with low price volatility, which may appeal to investors seeking stability in their portfolio. Additionally, the fund's liquid assets exceed its short-term obligations, indicating a solid financial footing that could reassure investors of its capacity to meet immediate liabilities. For those interested in further insights, InvestingPro offers additional tips on NXC that can be explored for a more comprehensive investment analysis.
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