Short Interest in Nuveen Preferred and Income Term Fund (NYSE:JPI) Decreases By 76.4%

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

Nuveen Preferred and Income Term Fund Price Performance

Shares of Nuveen Preferred and Income Term Fund stock traded up $0.16 during midday trading on Tuesday, reaching $19.92. The company had a trading volume of 30,450 shares, compared to its average volume of 23,631. The stock has a fifty day moving average price of $20.26 and a 200 day moving average price of $20.18. Nuveen Preferred and Income Term Fund has a fifty-two week low of $18.26 and a fifty-two week high of $21.42.

Nuveen Preferred and Income Term Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.166 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.99 dividend on an annualized basis and a yield of 10.00%.

Hedge Funds Weigh In On Nuveen Preferred and Income Term Fund

Several institutional investors have recently added to or reduced their stakes in the business. Almitas Capital LLC lifted its position in shares of Nuveen Preferred and Income Term Fund by 83.9% during the 2nd quarter. Almitas Capital LLC now owns 501,903 shares of the company’s stock valued at $9,762,000 after acquiring an additional 228,966 shares during the period. Truist Financial Corp boosted its holdings in Nuveen Preferred and Income Term Fund by 2.3% in the second quarter. Truist Financial Corp now owns 433,679 shares of the company’s stock worth $8,435,000 after acquiring an additional 9,619 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Nuveen Preferred and Income Term Fund by 2.7% in the second quarter. Envestnet Asset Management Inc. now owns 348,709 shares of the company’s stock valued at $6,782,000 after acquiring an additional 9,093 shares during the period. Chicago Partners Investment Group LLC increased its holdings in shares of Nuveen Preferred and Income Term Fund by 7.1% during the third 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 in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of 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 purchasing an additional 74,072 shares during the period.

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.