Nuveen Preferred and Income Term Fund (NYSE:JPI) Short Interest Down 26.8% in February

Nuveen Preferred and Income Term Fund (NYSE:JPI) was the target of a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 13,400 shares, a drop of 26.8% from the January 31st total of 18,300 shares. Based on an average trading volume of 25,900 shares, the days-to-cover ratio is presently 0.5 days.

Nuveen Preferred and Income Term Fund Stock Performance

JPI stock traded down $0.05 during trading on Tuesday, hitting $20.07. 50,303 shares of the company’s stock traded hands, compared to its average volume of 25,129. The business has a fifty day simple moving average of $20.01 and a two-hundred day simple moving average of $20.29. Nuveen Preferred and Income Term Fund has a 1 year low of $18.68 and a 1 year high of $21.42.

Nuveen Preferred and Income Term Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.166 per share. The ex-dividend date is Friday, March 14th. This represents a $1.99 annualized dividend and a dividend yield of 9.93%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JPI. Cetera Investment Advisers increased its stake in shares of Nuveen Preferred and Income Term Fund by 9.5% during the fourth quarter. Cetera Investment Advisers now owns 22,360 shares of the company’s stock worth $438,000 after purchasing an additional 1,946 shares in the last quarter. Elequin Capital LP acquired a new stake in Nuveen Preferred and Income Term Fund during the 4th quarter worth approximately $48,000. Raymond James Financial Inc. acquired a new stake in Nuveen Preferred and Income Term Fund during the 4th quarter worth approximately $2,092,000. IHT Wealth Management LLC increased its position in shares of Nuveen Preferred and Income Term Fund by 32.7% in the 4th quarter. IHT Wealth Management LLC now owns 13,694 shares of the company’s stock valued at $268,000 after purchasing an additional 3,378 shares during the last quarter. Finally, Shaker Financial Services LLC purchased a new stake in shares of Nuveen Preferred and Income Term Fund in the 4th quarter valued at approximately $292,000.

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.