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

Nuveen Preferred and Income Term Fund (NYSE:JPI) was the recipient of a large decline in short interest in September. As of September 15th, there was short interest totalling 13,200 shares, a decline of 38.6% from the August 31st total of 21,500 shares. Based on an average trading volume of 77,900 shares, the days-to-cover ratio is currently 0.2 days.

Nuveen Preferred and Income Term Fund Trading Up 0.1 %

NYSE:JPI traded up $0.02 during midday trading on Thursday, reaching $20.39. 21,209 shares of the stock traded hands, compared to its average volume of 58,501. Nuveen Preferred and Income Term Fund has a 12-month low of $16.25 and a 12-month high of $20.48. The business has a 50-day moving average of $19.75 and a two-hundred day moving average of $19.39.

Nuveen Preferred and Income Term Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.166 dividend. This is a boost from Nuveen Preferred and Income Term Fund’s previous monthly dividend of $0.10. The ex-dividend date is Friday, September 13th. This represents a $1.99 dividend on an annualized basis and a dividend yield of 9.77%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Principal Securities Inc. acquired a new position in shares of Nuveen Preferred and Income Term Fund in the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new stake in Nuveen Preferred and Income Term Fund in the 2nd quarter valued at $39,000. International Assets Investment Management LLC purchased a new stake in shares of Nuveen Preferred and Income Term Fund during the second quarter worth about $73,000. Cetera Advisors LLC purchased a new position in Nuveen Preferred and Income Term Fund in the 1st quarter valued at about $298,000. Finally, Wedbush Securities Inc. raised 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 acquiring an additional 1,655 shares during the last quarter.

About Nuveen Preferred and Income Term Fund

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.