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

Nuveen Preferred and Income Term Fund (NYSE:JPI) saw a large growth in short interest in October. As of October 15th, there was short interest totalling 64,300 shares, a growth of 127.2% from the September 30th total of 28,300 shares. Based on an average daily volume of 68,200 shares, the short-interest ratio is currently 0.9 days.

Nuveen Preferred and Income Term Fund Stock Performance

Shares of NYSE:JPI traded down $0.06 during midday trading on Friday, hitting $21.14. The company’s stock had a trading volume of 27,339 shares, compared to its average volume of 57,333. Nuveen Preferred and Income Term Fund has a 12-month low of $16.25 and a 12-month high of $21.42. The business’s 50 day simple moving average is $20.32 and its 200 day simple moving average is $19.70.

Nuveen Preferred and Income Term Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be paid a $0.166 dividend. This represents a $1.99 dividend on an annualized basis and a yield of 9.42%. The ex-dividend date is Tuesday, October 15th.

Institutional Investors Weigh In On Nuveen Preferred and Income Term Fund

Large investors have recently made changes to their positions in the stock. Almitas Capital LLC boosted its stake in Nuveen Preferred and Income Term Fund by 83.9% during the second quarter. Almitas Capital LLC now owns 501,903 shares of the company’s stock worth $9,762,000 after buying an additional 228,966 shares during the last quarter. Truist Financial Corp grew its holdings in shares of 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 valued at $8,435,000 after purchasing an additional 9,619 shares during the period. Envestnet Asset Management Inc. increased its position in Nuveen Preferred and Income Term Fund by 2.7% during the second quarter. Envestnet Asset Management Inc. now owns 348,709 shares of the company’s stock worth $6,782,000 after purchasing an additional 9,093 shares during the last quarter. SageView Advisory Group LLC purchased a new position in Nuveen Preferred and Income Term Fund during the first quarter worth about $2,269,000. Finally, International Assets Investment Management LLC boosted its holdings in Nuveen Preferred and Income Term Fund by 1,982.1% in the 3rd quarter. International Assets Investment Management LLC now owns 77,809 shares of the company’s stock valued at $1,620,000 after purchasing an additional 74,072 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.