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Nuveen New York Select Tax-Free Income Portfolio (NXN)
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Upturn Advisory Summary
01/07/2026: NXN (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type Stock | Historic Profit 7.68% | Avg. Invested days 78 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 01/07/2026 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 45.45M USD | Price to earnings Ratio 28.24 | 1Y Target Price - |
Price to earnings Ratio 28.24 | 1Y Target Price - | ||
Volume (30-day avg) - | Beta 0.3 | 52 Weeks Range 10.74 - 12.08 | Updated Date 06/29/2025 |
52 Weeks Range 10.74 - 12.08 | Updated Date 06/29/2025 | ||
Dividends yield (FY) 4.35% | Basic EPS (TTM) 0.41 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 71.73% | Operating Margin (TTM) 90.56% |
Management Effectiveness
Return on Assets (TTM) 2.09% | Return on Equity (TTM) -7.53% |
Valuation
Trailing PE 28.24 | Forward PE - | Enterprise Value 44765148 | Price to Sales(TTM) 20.52 |
Enterprise Value 44765148 | Price to Sales(TTM) 20.52 | ||
Enterprise Value to Revenue 26.98 | Enterprise Value to EBITDA - | Shares Outstanding 3924890 | Shares Floating - |
Shares Outstanding 3924890 | Shares Floating - | ||
Percent Insiders - | Percent Institutions 17.38 |
Upturn AI SWOT
Nuveen New York Select Tax-Free Income Portfolio
Company Overview
History and Background
Nuveen New York Select Tax-Free Income Portfolio (symbol: NNY) is a closed-end fund managed by Nuveen Asset Management. It was established to provide investors with a high level of current income that is exempt from regular federal income tax and from New York State and New York City income taxes. The fund primarily invests in municipal obligations issued by New York State and its municipalities. Its evolution is tied to the municipal bond market and investor demand for tax-exempt income.
Core Business Areas
- Municipal Bond Investing: Focuses on investing in a diversified portfolio of investment-grade municipal bonds issued by New York State, its political subdivisions, and authorities. The objective is to generate tax-exempt income.
Leadership and Structure
Managed by Nuveen Asset Management, a subsidiary of TIAA. The fund's day-to-day management is overseen by a team of portfolio managers specializing in municipal bonds. As a closed-end fund, its structure involves a fixed number of shares that trade on an exchange.
Top Products and Market Share
Key Offerings
- Competitors: Other closed-end NY municipal bond funds (e.g., BlackRock MuniHoldings New York Quality Fund - MNY, PIMCO New York Municipal Income Fund - PNY), open-end NY municipal bond funds and ETFs.
- Description: A diversified portfolio of New York municipal bonds seeking to provide tax-exempt income. Competitors include other closed-end municipal bond funds focused on New York, as well as open-end municipal bond ETFs and mutual funds with a New York focus. Market share data for specific closed-end funds is not readily available in a universally recognized format, but NNY is one of many offerings in the municipal bond fund space.
- Market Share Data: Not Applicable (specific market share for a single closed-end fund is not typically reported)
- Number of Users: Variable, as it trades on an exchange
- Product Name 1: Nuveen New York Select Tax-Free Income Portfolio (NNY) - Closed-End Fund
- Revenue: Primarily generated through management fees and net investment income from its portfolio
Market Dynamics
Industry Overview
The municipal bond market is characterized by its tax-exempt nature, making it attractive to high-income investors. The market is influenced by interest rate environments, economic conditions in the issuing states and municipalities, and regulatory changes. The closed-end fund structure offers a fixed capital base, which can differ from open-end funds. The demand for tax-exempt income is a significant driver.
Positioning
Nuveen New York Select Tax-Free Income Portfolio is positioned as a provider of tax-exempt income specifically for New York residents. Its competitive advantage lies in Nuveen's expertise in municipal bond management and its focus on New York-specific obligations. As a closed-end fund, it can trade at a premium or discount to its net asset value, offering potential opportunities and risks.
Total Addressable Market (TAM)
The TAM for tax-exempt income for New York residents is substantial, driven by the high income tax rates in the state. Nuveen New York Select Tax-Free Income Portfolio aims to capture a portion of this market by offering a diversified portfolio of New York municipal bonds. The exact TAM is difficult to quantify precisely but is measured in trillions of dollars for the overall municipal bond market.
Upturn SWOT Analysis
Strengths
- Specialization in New York municipal bonds, catering to a specific tax-advantaged investor base.
- Managed by Nuveen, a large and experienced asset manager with a strong track record in fixed income.
- Closed-end structure can offer potential for trading at a discount to Net Asset Value (NAV), creating opportunities.
- Diversified portfolio of municipal bonds helps mitigate issuer-specific risk.
Weaknesses
- Sensitivity to interest rate fluctuations, which can impact bond prices and fund performance.
- Potential for trading at a premium to NAV, which can be a disadvantage for investors.
- Limited geographic diversification beyond New York State, making it susceptible to New York-specific economic downturns.
- Concentration risk if certain New York municipal issuers face financial distress.
Opportunities
- Potential for rising interest rates to eventually offer higher yields on new bond purchases.
- Investor demand for tax-exempt income, particularly from higher-income brackets.
- Opportunities to acquire bonds at attractive valuations during market dislocations.
- Leverage (if employed) can enhance returns in a favorable interest rate environment.
Threats
- Rising interest rates can lead to declines in bond values and NAV.
- Deterioration of New York State's or its municipalities' creditworthiness.
- Changes in tax laws that reduce the attractiveness of tax-exempt income.
- Increased competition from other municipal bond funds and alternative investment vehicles.
Competitors and Market Share
Key Competitors
- BlackRock MuniHoldings New York Quality Fund (MNN)
- PIMCO New York Municipal Income Fund (PNI)
- VanEck Muni CEF Opportunities ETF (TML)
- iShares National Muni Bond ETF (MUB)
Competitive Landscape
NNY competes with a range of closed-end funds, open-end funds, and ETFs focused on municipal bonds, particularly those with a New York state focus. Its advantages include its specific focus and Nuveen's management expertise. Disadvantages can arise from interest rate sensitivity, potential for trading at a premium, and concentration in a single state's credit.
Growth Trajectory and Initiatives
Historical Growth: Growth for a closed-end fund like NNY is primarily measured by the growth in its Net Asset Value (NAV) and the consistency of its income distributions. Historically, its growth would have been influenced by the overall performance of the municipal bond market and New York's economy.
Future Projections: Future projections for NNY would depend on anticipated interest rate movements, the credit quality of New York municipal issuers, and investor demand for tax-exempt income. Analyst projections are more focused on NAV and distribution stability rather than revenue growth in the traditional sense.
Recent Initiatives: Recent initiatives would typically involve portfolio adjustments by the fund managers to optimize yield and manage risk, potentially through active trading of holdings or adjustments to the portfolio's duration. There are no major 'strategic initiatives' in the sense of new product launches, but rather ongoing portfolio management.
Summary
Nuveen New York Select Tax-Free Income Portfolio is a specialized closed-end fund for New York residents seeking tax-exempt income. Its strength lies in its focus and Nuveen's management. However, it faces risks from interest rate volatility and New York's economic health. Continued strong performance hinges on effective portfolio management and favorable market conditions for municipal bonds.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Nuveen Investments official website
- SEC filings (e.g., 10-K, N-CSR)
- Financial data providers (e.g., Bloomberg, Refinitiv, Morningstar)
- Industry analysis reports
Disclaimers:
This JSON output is for informational purposes only and does not constitute financial advice. Past performance is not indicative of future results. Investors should conduct their own due diligence and consult with a qualified financial advisor before making investment decisions. Market share data and competitor analysis are estimates and may not be exhaustive or perfectly precise.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Nuveen New York Select Tax-Free Income Portfolio
Exchange NYSE | Headquaters Chicago, IL, United States | ||
IPO Launch date 1992-06-19 | CEO - | ||
Sector Financial Services | Industry Asset Management | Full time employees - | |
Full time employees - | |||
Nuveen New York Select Tax-Free Income Portfolio is a closed-ended fixed income mutual fund launched by Nuveen Investments Inc. The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of New York. The fund invests in the securities of companies that operate across diversified sectors. It primarily invests in municipal bonds with an average credit quality of Baa/BBB or better. The fund employs fundamental analysis to create its portfolio. It benchmarks the performance of its portfolio against Barclays Capital New York Municipal Bond Index and S&P New York Municipal Bond Index. Nuveen New York Select Tax-Free Income Portfolio was formed on June 19, 1992 and is domiciled in the United States.
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