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

Nuveen Preferred and Income Term Fund (NYSE:JPI) was the target of a large decline in short interest in January. As of January 15th, there was short interest totalling 11,000 shares, a decline of 76.4% from the December 31st total of 46,700 shares. Based on an average daily volume of 31,600 shares, the days-to-cover ratio is presently 0.3 days.

Nuveen Preferred and Income Term Fund Stock Performance

Shares of JPI traded down $0.03 during mid-day trading on Wednesday, hitting $20.09. 12,715 shares of the company traded hands, compared to its average volume of 22,884. Nuveen Preferred and Income Term Fund has a 1-year low of $18.46 and a 1-year high of $21.42. The business has a 50 day moving average of $20.11 and a 200 day moving average of $20.22.

Nuveen Preferred and Income Term Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be issued a dividend of $0.166 per share. This represents a $1.99 annualized dividend and a yield of 9.92%. The ex-dividend date is Wednesday, January 15th.

Hedge Funds Weigh In On Nuveen Preferred and Income Term Fund

Several institutional investors and hedge funds have recently modified their holdings of the business. Kingswood Wealth Advisors LLC raised its position in shares of Nuveen Preferred and Income Term Fund by 77.8% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 48,040 shares of the company’s stock worth $942,000 after purchasing an additional 21,020 shares during the last quarter. Diversify Wealth Management LLC acquired a new stake in shares of Nuveen Preferred and Income Term Fund in the fourth quarter valued at about $319,000. Wealthcare Advisory Partners LLC raised its holdings in Nuveen Preferred and Income Term Fund by 3.6% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 16,777 shares of the company’s stock valued at $329,000 after acquiring an additional 581 shares during the last quarter. International Assets Investment Management LLC lifted its position in Nuveen Preferred and Income Term Fund by 1,982.1% during the third quarter. International Assets Investment Management LLC now owns 77,809 shares of the company’s stock worth $1,620,000 after buying an additional 74,072 shares in the last quarter. Finally, Chicago Partners Investment Group LLC boosted its position in shares of Nuveen Preferred and Income Term Fund by 7.1% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 85,062 shares of the company’s stock valued at $1,801,000 after acquiring an additional 5,672 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.