Nuveen Select Tax-Free Income Portfolio 2 (NXQ)’s Stock Formed A Several Months Wedge Up Pattern

Investors sentiment decreased to 0.88 in 2018 Q4. Its down 1.25, from 2.13 in 2018Q3. It is negative, as 7 investors sold Nuveen Select Tax-Free Income Portfolio 2 shares while 9 reduced holdings. 5 funds opened positions while 9 raised stakes. 2.33 million shares or 50.44% more from 1.55 million shares in 2018Q3 were reported.
Landscape Cap Mgmt Ltd Liability Company invested in 23,149 shares. Cambridge Inv Research accumulated 32,148 shares. Raymond James Na holds 0.01% or 12,366 shares in its portfolio. Patten Gru reported 700 shares. Benjamin F Edwards And Inc accumulated 1,075 shares. Pnc Services Gp holds 0% of its portfolio in Nuveen Select Tax-Free Income Portfolio 2 (NYSE:NXQ) for 44,208 shares. 11,700 are held by Dakota Wealth Management. Hawaii-based First Hawaiian State Bank has invested 0% in Nuveen Select Tax-Free Income Portfolio 2 (NYSE:NXQ). New Jersey-based Private Advisor Limited Co has invested 0% in Nuveen Select Tax-Free Income Portfolio 2 (NYSE:NXQ). Tradewinds Capital Management stated it has 2,515 shares or 0.02% of all its holdings. Van Eck Assocs Corporation reported 49,547 shares. Wells Fargo & Mn owns 0% invested in Nuveen Select Tax-Free Income Portfolio 2 (NYSE:NXQ) for 96,216 shares. Mgmt Pro holds 700 shares or 0.01% of its portfolio. Commercial Bank Of Montreal Can accumulated 0% or 1,000 shares. Koshinski Asset Mgmt holds 0.13% or 40,400 shares in its portfolio.

The stock of Nuveen Select Tax-Free Income Portfolio 2 (NXQ) formed an up wedge with $14.78 target or 5.00 % above today’s $14.08 share price. The 7 months wedge indicates low risk for the $249.41 million company. If the $14.78 price target is reached, the company will be worth $12.47 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.14% or $0.02 during the last trading session, reaching $14.08. About 3,330 shares traded. Nuveen Select Tax-Free Income Portfolio 2 (NYSE:NXQ) has declined 0.51% since May 8, 2018 and is downtrending. It has underperformed by 4.88% the S&P500.

More notable recent Nuveen Select Tax-Free Income Portfolio 2 (NYSE:NXQ) news were published by: Seekingalpha.com which released: “Is The Muni Bond Market Positioned For Its Moment In The Sun? – Seeking Alpha” on June 12, 2018, also Seekingalpha.com with their article: “Munis In March: Flows In Focus – Seeking Alpha” published on March 18, 2019, Seekingalpha.com published: “SCOTUS – 2 Major Rulings With Positive Implications For Municipal Bond Credit Quality – Seeking Alpha” on July 03, 2018. More interesting news about Nuveen Select Tax-Free Income Portfolio 2 (NYSE:NXQ) were released by: Seekingalpha.com and their article: “CXH: MFS Redeemed? – Seeking Alpha” published on September 17, 2017 as well as Seekingalpha.com‘s news article titled: “NXQ: Better Than Cash? – Seeking Alpha” with publication date: September 07, 2017.

Nuveen Select Tax-Free Income Portfolio 2 is a closed-ended fixed income mutual fund launched by Nuveen Investments Inc. The company has market cap of $249.41 million. The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It has a 135.38 P/E ratio. It invests in the fixed income markets of United States.

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