Divide a project

Is there a way to take a folder out of one project and start an entirely new project for it?

What I have going on here is one project in which I’ve collected all my short story ideas, half-finished stories, and stories that need a lot of love.

I’m back to working on one of those stories and it’s coming along nicely enough that I’d like it to have it’s own project.

Is there a way to do this?

start a new project (this should have 2 projects open)
Drag folder from original project to new project.
repeat until all needed stuff is moved.

That did it. Thank you!