Nuveen Preferred and Income Term Fund (NYSE:JPI) Sees Large Decline in Short Interest

Nuveen Preferred and Income Term Fund (NYSE:JPI) was the recipient of a large drop in short interest in January. As of January 15th, there was short interest totalling 11,000 shares, a drop of 76.4% from the December 31st 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

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

Nuveen Preferred and Income Term Fund Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Truist Financial Corp raised its position in Nuveen Preferred and Income Term Fund by 2.3% in the 2nd quarter. Truist Financial Corp now owns 433,679 shares of the company’s stock valued at $8,435,000 after purchasing an additional 9,619 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of 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 buying an additional 9,093 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake 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 worth $1,801,000 after buying an additional 5,672 shares during the period. International Assets Investment Management LLC grew its holdings 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 buying an additional 74,072 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC increased its position in Nuveen Preferred and Income Term Fund by 77.8% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 48,040 shares of the company’s stock valued at $942,000 after acquiring an additional 21,020 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.