Nuveen Preferred and Income Term Fund (NYSE:JPI) Short Interest Update

Nuveen Preferred and Income Term Fund (NYSE:JPI) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totalling 64,300 shares, an increase of 127.2% from the September 30th total of 28,300 shares. Based on an average daily volume of 68,200 shares, the short-interest ratio is currently 0.9 days.

Institutional Investors Weigh In On Nuveen Preferred and Income Term Fund

A number of large investors have recently made changes to their positions in the stock. Wedbush Securities Inc. grew its holdings in shares of Nuveen Preferred and Income Term Fund by 10.6% during the second quarter. Wedbush Securities Inc. now owns 17,274 shares of the company’s stock valued at $336,000 after buying an additional 1,655 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in Nuveen Preferred and Income Term Fund in the second quarter valued at $39,000. International Assets Investment Management LLC purchased a new stake in Nuveen Preferred and Income Term Fund in the second quarter valued at $73,000. Envestnet Asset Management Inc. grew its position in Nuveen Preferred and Income Term Fund by 2.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 348,709 shares of the company’s stock worth $6,782,000 after purchasing an additional 9,093 shares during the period. Finally, Truist Financial Corp raised its stake in shares of Nuveen Preferred and Income Term Fund by 2.3% during the 2nd quarter. Truist Financial Corp now owns 433,679 shares of the company’s stock valued at $8,435,000 after buying an additional 9,619 shares during the last quarter.

Nuveen Preferred and Income Term Fund Price Performance

Shares of JPI traded down $0.06 during trading hours on Friday, reaching $21.14. 27,339 shares of the company traded hands, compared to its average volume of 57,333. Nuveen Preferred and Income Term Fund has a 12-month low of $16.25 and a 12-month high of $21.42. The business has a fifty day moving average price of $20.32 and a 200-day moving average price of $19.70.

Nuveen Preferred and Income Term Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.166 per share. This represents a $1.99 dividend on an annualized basis and a dividend yield of 9.42%. The ex-dividend date of this dividend is Tuesday, October 15th.

Nuveen Preferred and Income Term Fund Company Profile

Nuveen Preferred and Income Term Fund is a close ended balanced mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests into public equity and fixed income markets across the globe. The fund seeks to invest in stocks of companies that are operating in financial services sectors such as bank, insurance, REITs, and utility companies.