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NXN

Nuveen New York Select Tax-Free Income Portfolio

NXN

Nuveen New York Select Tax-Free Income Portfolio • NYSE
$12.14 ▲ 0.12% (+0.01)
Market Cap $47.67 M
52w High $12.28
52w Low $10.98
Dividend Yield 0.50%
P/E -37.95
Volume 2.79K
Outstanding Shares 3.92M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2024 $1.088M ▼ $81.985K ▲ $593.202K ▼ 54.512% ▼ $0.076 ▼ $591.376K ▼
Q2-2024 $1.093M ▲ $13.329K ▲ $995.771K ▼ 91.105% ▼ $0.25 ▼ $997.597K ▼
Q4-2023 $804.982K ▼ $-1.424M ▼ $2.152M ▲ 267.333% ▲ $0.55 ▲ $2.153M ▲
Q2-2023 $855.598K ▼ $4.489M ▲ $834.829K ▲ 97.573% ▲ $0.21 ▲ $834.904K ▲
Q4-2022 $1.021M $896.71K $123.858K 12.132% $0.032 $0

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $685.136K ▲ $49.914M ▼ $221.85K ▲ $49.692M ▼
Q2-2024 $201.799K ▲ $50.294M ▲ $206.465K ▼ $50.088M ▲
Q4-2023 $51.55K ▼ $50.282M ▲ $224.916K ▲ $50.057M ▲
Q2-2023 $253.817K ▲ $49.087M ▼ $154.723K ▼ $48.871M ▼
Q4-2022 $0 $49.878M $885.915K $48.992M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2024 $296.601K ▼ $0 $0 $0 $0 $0
Q2-2024 $497.886K ▼ $0 $0 $0 $0 $0
Q2-2023 $834.829K ▲ $0 $0 $0 $0 $0
Q4-2022 $-1.948M $0 $0 $0 $0 $0
Q2-2022 $-1.948M $0 $0 $0 $0 $0

Five-Year Company Overview

Income Statement

Income Statement NXN’s reported income figures are essentially placeholders, but the earnings-per-share pattern tells a clearer story. The fund has generally produced positive results over the last several years, with one notably weak year in the middle when it recorded a loss. That kind of swing is typical for a municipal bond fund, where results are heavily influenced by interest-rate moves and unrealized changes in bond prices rather than traditional business revenue. Recent years show a return to profitability, but not yet at the strongest levels seen earlier in the period, suggesting a recovery rather than a straight, steady climb.

Balance Sheet

Balance Sheet The balance sheet looks simple and conservative, which fits a closed‑end municipal bond fund. Reported assets and equity are small but quite stable over time, and there is no sign of meaningful financial debt at the fund level. In practice, the economic exposure comes from the underlying municipal bonds and any structural leverage tools the fund may use, not from traditional corporate borrowing. Overall, the balance sheet data presented suggest a steady, low-complexity structure without obvious signs of balance-sheet stress.

Cash Flow

Cash Flow The cash‑flow data shown are largely blank or flat, which is common for funds where accounting focuses more on distributions and changes in net asset value than on operating cash flow in the corporate sense. For a vehicle like NXN, the practical “cash flow” story is about whether the portfolio’s tax‑free interest income comfortably covers distributions to shareholders over time. That information is not fully visible in the figures provided, so any view on the strength or weakness of cash generation remains uncertain based on this dataset alone.

Competitive Edge

Competitive Edge NXN benefits from being part of Nuveen, a large and specialized municipal bond manager. Nuveen’s in‑house credit research team is a key strength, giving the fund access to deep, issuer‑level analysis across a complex, fragmented market. Historically, NXN’s focus on New York municipal bonds has provided a niche: highly tax‑advantaged income for New York residents. That niche appeal differentiates it from broad national funds but also narrows its investor base. The proposed merger into a larger national portfolio would likely improve scale and liquidity but would also dilute this very specific New York tax advantage, meaning its competitive identity could shift from “tax niche” toward “scale and diversification.”

Innovation and R&D

Innovation and R&D While NXN itself follows a fairly traditional municipal bond strategy, it benefits from Nuveen’s broader innovation efforts. The firm has developed its own environmental, social, and governance scoring framework tailored to municipal issuers, addressing a long‑standing gap in third‑party data. This gives portfolio managers an additional lens for assessing long‑term risk and resilience, beyond pure credit metrics. Nuveen also has expertise with more complex tools, such as tender option bonds, which can be used to adjust leverage and potentially enhance income. Together, these capabilities provide a more modern, research‑driven approach within what is otherwise a classic tax‑free income strategy.

Summary

NXN is a long‑standing, New York‑focused tax‑free income fund backed by a large, research‑heavy municipal bond manager. Its earnings pattern shows the usual ups and downs tied to interest‑rate cycles rather than steady corporate‑style growth, with a clear setback in one recent year followed by a recovery. The balance sheet and reported cash‑flow data look simple but also leave gaps, so the real story lies in portfolio quality, credit work, and distribution coverage, which are not fully captured in the figures provided. Nuveen’s proprietary ESG analytics and deep credit research are meaningful strengths that can help manage risk and find opportunities in the municipal market. The proposed merger into a larger national fund would be a pivotal change: it could bring scale and cost benefits but would also mean giving up the very specific New York triple‑tax‑exempt profile that currently defines NXN’s role for investors.