NUVEEN SELECT TAX FREE INCOME PORTFOLIO filed a Form 3 insider report for Joseph Castro, who serves as EVP, Chief Risk & Compliance. The insider data provided shows no reported buy, sell, acquisition, or disposition transactions and no share amounts associated with this filing.
NUVEEN SELECT TAX FREE INCOME PORTFOLIO filed an insider ownership report for officer Robert Tanner Page, who serves as Vice President and Treasurer. The Form 3 data provided shows no reported buy, sell, acquisition, or disposition transactions and no share amounts listed.
Nuveen Select Tax-Free Income Portfolio (NXP) proposes to acquire Nuveen California Select and Nuveen New York Select via tax-free reorganizations. The boards recommend the transactions to streamline Nuveen's closed-end fund lineup, reduce combined fund-level expenses and improve secondary market liquidity.
The filing estimates pro forma expense-ratio reductions of 0.13% versus California Select, 0.20% versus New York Select and 0.01% versus the Acquiring Fund. Estimated total reorganization costs are $905,000 allocated $445,000 to each Target Fund and $15,000 to the Acquiring Fund. Pro forma share issuances assume 6,020,642 shares for California Select and 3,376,093 shares for New York Select based on May 31, 2025 NAVs. Shareholder votes are set for November 14, 2025 and the anticipated closing is on or about December 8, 2025. The filing states the transactions qualify as tax-free reorganizations under Section 368 of the Code.