Nuveen Select Tax-Free Income Portfolio 3
NXR
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
- Jul 24, 1992
- CIK
- 0000888411
- Website
- nuveen.com
- Similar Companies
- Business
- Nuveen Select Tax-Free Income Portfolio 3 (NYSE: NXR) is a closed-end management investment company that seeks current income exempt from regular federal income tax, consistent with the preservation of capital. The Fund invests at least 80% of its managed assets in municipal securities rated investment grade at the time of investment, or if unrated, judged by the manager to be of comparable quality; it may invest up to 20% of its managed assets in lower-rated municipal securities, of which up to 10% may be rated below B-/B3 or comparable quality; and it may invest in inverse floating rate municipal securities, known as tender option bonds, which may create up to 10% effective leverage. The Fund primarily targets income-focused investors seeking tax-exempt distributions from a diversified portfolio of U.S. municipal bonds across various sectors and states, with operations focused on the United States fixed income markets. Launched with an initial public offering on July 24, 1992, and headquartered at 333 West Wacker Drive, Chicago, Illinois, the Fund was managed by Nuveen Fund Advisors, LLC and Nuveen Asset Management, LLC prior to its reorganization. In a significant strategic reorganization completed on December 6, 2021, Nuveen Select Tax-Free Income Portfolio 3 (NXR) and Nuveen Select Tax-Free Income Portfolio 2 (NXQ) were merged into Nuveen Select Tax-Free Income Portfolio (NXP) in a tax-free transaction, with NXP acquiring substantially all assets and liabilities of NXR based on closing net asset values from December 3, 2021; the exchange ratio for NXR shares was 1.02072336 NXP shares per NXR share. This consolidation aimed to streamline operations, enhance scale, and provide shareholders with continued exposure to national tax-free municipal income strategies under the surviving NXP ticker. No major partnerships, funding rounds, new product launches, or further reorganizations have been announced for NXR since the 2021 merger, which rendered the NXR ticker defunct as a standalone entity.