Three Nuveen closed-end funds file shelf registration to sell stock

By Toni Weeks

San Diego, Dec. 14 - Three Nuveen closed-end municipal funds have each filed initial registration statements with the Securities and Exchange Commission to establish equity shelf programs, according to a press release from Nuveen Investments.

The affected funds are the Nuveen Select Tax-Free Income Portfolio, the Nuveen Select Tax-Free Income Portfolio 2 and the Nuveen Select Tax-Free Income Portfolio 3.

The programs allow the funds, subject to market conditions, to raise additional equity capital by issuing additional common shares from time to time in varying amounts and offering methods at a net price at or above each fund's net asset value per common share.

The shelf programs are designed to provide the funds' portfolio managers with additional flexibility in pursuing investment opportunities to enhance long-term shareholder returns.

Chicago-based Nuveen Fund Advisors, Inc. is the investment adviser.

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