Closed-End Funds: Screening For The Best Municipal Bond Exposure

Municipal bond closed-end funds (CEFs) are seeing narrowing discounts, with NXP and MHF offering the most compelling value in the space at present. Leverage costs are easing as the Fed cuts rates, which should improve distribution coverage and make leveraged muni CEFs more attractive. Of course, there are always risks that include increased volatility from leverage and sensitivity to long-term Treasury rates, but we've seen long-term rate stabilization within a fairly narrow range.

Seeking Alpha • Feb 4, 2026

Nuveen Select Tax-Free Income Portfolios Announce Completion of Reorganizations

CHICAGO--(BUSINESS WIRE)--The reorganizations of Nuveen California Select Tax-Free Income Portfolio (NYSE: NXC) and Nuveen New York Select Tax-Free Income Portfolio (NYSE: NXN) into Nuveen Select Tax-Free Income Portfolio (NYSE: NXP) were successfully completed prior to the opening of the New York Stock Exchange on January 12, 2026. Through the reorganizations, NXP acquired substantially all of the assets and liabilities of NXC and NXN in a tax-free transaction in exchange for newly-issued comm.

Business Wire • Jan 12, 2026

Nuveen Closed-End Funds Announce Update to Reorganization Distributions

CHICAGO--(BUSINESS WIRE)--As previously announced, shareholders of the Nuveen Select Tax-Free Income Portfolio (NYSE: NXP), Nuveen California Select Tax-Free Income Portfolio (NYSE: NXC), and Nuveen New York Select Tax-Free Income Portfolio (NYSE: NXN) have approved the funds' reorganization. The reorganization will combine NXC and NXN into NXP. The funds previously announced that the monthly distributions typically declared the first business day of the month for NXP, NXC, and NXN would be rep.

Business Wire • Dec 30, 2025

NXP: Too Much Uncertainty To Recommend

Nuveen Select Tax-Free Income Portfolio faces a proposed merger with Nuveen California Select Tax-Free Income Portfolio and Nuveen New York Select Tax-Free Income Fund, which I oppose due to yield and tax implications. NXC and NXN yield less than NXP, potentially diluting NXP's yield post-merger and introducing state tax liabilities for single-state holders. NXP's larger size and national exposure offer diversification, but merging may lower future payments due to lower WA coupons in NXC and NXN.

Seeking Alpha • Dec 19, 2025

Nuveen Select Tax-Free Income Portfolios Announce Shareholder Approval of Reorganization

CHICAGO--(BUSINESS WIRE)--Shareholders of the Nuveen Select Tax-Free Income Portfolio (NYSE: NXP), Nuveen California Select Tax-Free Income Portfolio (NYSE: NXC), and Nuveen New York Select Tax-Free Income Portfolio (NYSE: NXN) have approved the funds' reorganization. The reorganization will combine NXC and NXN into NXP. Subject to the satisfaction of certain customary closing conditions, the transactions are expected to become effective before the market opens on January 12, 2026. The monthly.

Business Wire • Dec 18, 2025

Income-Covered Closed-End Fund Report, September 2025

This report screens ~400 closed-end funds (CEFs) for those with 100%+ net investment income coverage, highlighting lower risk of distribution cuts. Top lists identify CEFs with the widest discounts, most attractive z-scores, highest covered yields, and best combinations of value and income. Investors are encouraged to use these rankings as a starting point for due diligence, not as final buy or sell recommendations.

Seeking Alpha • Sep 22, 2025

Nuveen Wants To Merge NXC And NXN Into NXP: What Now?

I voted against the NXC and NXN merger into Nuveen Select Tax-Free Income Portfolio, as it would overweight NXP with bonds from states facing population decline and high taxes. NXP offers lower fees, higher yields, better credit quality, and stronger historical returns compared to the single-state funds NXC and NXN. State fund holders would benefit from the merger, but must consider that distributions will become subject to steep state income taxes.

Seeking Alpha • Sep 8, 2025

Nuveen Select Tax-Free Income Portfolios Announce Proposed Reorganizations and Shareholder Meeting Update

NEW YORK--(BUSINESS WIRE)--The Boards of Trustees of Nuveen California Select Tax-Free Income Portfolio (NYSE: NXC), Nuveen New York Select Tax-Free Income Portfolio (NYSE: NXN), and Nuveen Select Tax-Free Income Portfolio (NYSE: NXP) have approved a proposal to reorganize the funds. The proposed reorganizations, if approved by shareholders, would combine NXC and NXN into NXP. The reorganizations are intended to create a larger fund with lower net operating expenses and increased trading volume.

Business Wire • Jun 17, 2025

NXP: Decent Muni Yield With No Return Of Capital

Use the right tool for your intended purpose. Munis are Federal income tax-free, so appeal to higher-rate income taxpayers. My concern is over distributions being funded by the return of capital – something not happening here.

Seeking Alpha • Jun 12, 2025

NAD Vs. NXP Revisited: Time To Delever

Nuveen Quality Municipal Income Fund distributions are only about 52% covered by investment income. NAD is also leveraged, which helped returns in 2024 but may not be an advantage going forward as rates are no longer falling as fast. Nuveen Select Tax-Free Income Portfolio is unleveraged and fully covers its dividends with investment income.

Seeking Alpha • Dec 3, 2024