Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers N > Headlines for Nuveen Select Tax-Free Income Portfolio > News item |
Three Nuveen Select Tax-Free Income portfolios announce stock offers
By Toni Weeks
San Luis Obispo, Calif., June 19 - Nuveen Select Tax-Free Income Portfolio 1, 2 and 3 announced share offerings, according to separate 497 filings with the Securities and Exchange Commission. All three are diversified, closed-end management investment companies advised by Chicago-based Nuveen Fund Advisors, LLC.
Each fund seeks to provide current income exempt from regular federal income tax, consistent with preservation of capital. The fund invests, under normal circumstances, at least 80% of its managed assets in municipal securities and other related investments, the income from which is exempt from regular federal income tax and federal alternative minimum tax (AMT). The investments are primarily investment grade.
Thomas Spalding is the portfolio manager of all three funds.
The Nuveen Select Tax-Free Income Portfolio plans to offer 1.6 million common shares. The fund's closing price (NYSE: NXP) on May 31 was $13.86.
The maximum sales charge is 4%. Total annual expenses are 0.28% and include management fees of 0.21%.
The Nuveen Select Tax-Free Income Portfolio 2 plans to offer 1.7 million shares. The fund's closing price (NYSE: NXQ) on May 31 was $13.66.
The maximum sales charge is 4%. Total annual expenses are 0.33% and include management fees of 0.26%.
The Nuveen Select Tax-Free Income Portfolio 3 plans to offer 1.3 million shares. The fund's closing price (NYSE: NXR) on May 31 was $14.19.
The maximum sales charge is 4%. Total annual expenses are 0.33% and include management fees of 0.27%.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.