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

Nuveen Preferred and Income Term Fund (NYSE:JPI) was the recipient of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 11,000 shares, a decline 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 NYSE:JPI 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 company’s 50 day moving average price is $20.26 and its 200 day moving average price is $20.18. Nuveen Preferred and Income Term Fund has a 52-week low of $18.26 and a 52-week high of $21.42.

Nuveen Preferred and Income Term Fund Dividend Announcement

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

Institutional Investors Weigh In On Nuveen Preferred and Income Term Fund

Large investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its stake in Nuveen Preferred and Income Term Fund by 2.7% in the 2nd 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. Almitas Capital LLC grew its stake in Nuveen Preferred and Income Term Fund by 83.9% in the 2nd quarter. Almitas Capital LLC now owns 501,903 shares of the company’s stock valued at $9,762,000 after buying an additional 228,966 shares in the last quarter. Truist Financial Corp raised its holdings in 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 acquiring an additional 9,619 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Nuveen Preferred and Income Term Fund during the second quarter worth $717,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of Nuveen Preferred and Income Term Fund by 1,982.1% in the third quarter. International Assets Investment Management LLC now owns 77,809 shares of the company’s stock worth $1,620,000 after acquiring an additional 74,072 shares during the period.

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.