Nuveen Select Tax-Free Income Portfolio 2
NXQ
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 333 W Wacker Dr Boston MA United States of America 60606
- IPO Date
- May 21, 1992
- CIK
- 0000885733
- Website
- nuveen.com
- Similar Companies
- Business
- Nuveen Select Tax-Free Income Portfolio 2 (NYSE: NXQ) is a closed-end fixed income fund managed by Nuveen Fund Advisors, LLC and Nuveen Asset Management, LLC that seeks current income exempt from regular federal income taxes, consistent with the preservation of capital. The fund invests at least 80% of its managed assets in investment-grade municipal securities at the time of purchase or unrated securities deemed comparable by the manager; up to 20% of managed assets may be allocated to lower-rated municipal securities, including up to 10% rated below B-/B3 or equivalent; and it employs inverse floating rate municipal securities, known as tender option bonds, for up to 10% effective leverage to enhance yield and strategy implementation. Founded on May 21, 1992 and based in Chicago, Illinois, the fund targets U.S. fixed income markets, primarily investment-grade municipal bonds rated Baa/BBB or better, benchmarked against the S&P National Municipal Bond Index and Lipper General and Insured Unleveraged Municipal Debt Funds Average, serving income-focused investors seeking tax-exempt dividends. In a major reorganization completed on December 6, 2021, Nuveen Select Tax-Free Income Portfolio (NYSE: NXP) acquired substantially all assets and liabilities of NXQ and Nuveen Select Tax-Free Income Portfolio 3 (NYSE: NXR) in a tax-free exchange of shares valued at closing net asset values on December 3, 2021, with NXQ shareholders receiving 0.95219330 NXP shares per NXQ share to consolidate into a larger fund with enhanced operating efficiency, liquidity, and scale. No further acquisitions, partnerships, funding rounds, or product launches have been announced for NXQ since the 2021 merger.