Short Interest in Nuveen Preferred and Income Term Fund (NYSE:JPI) Drops By 29.8%

Nuveen Preferred and Income Term Fund (NYSE:JPI) was the recipient of a significant drop in short interest in November. As of November 30th, there was short interest totalling 47,300 shares, a drop of 29.8% from the November 15th total of 67,400 shares. Based on an average daily trading volume, of 35,500 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Investors Weigh In On Nuveen Preferred and Income Term Fund

A number of institutional investors and hedge funds have recently modified their holdings of JPI. International Assets Investment Management LLC acquired a new stake in shares of Nuveen Preferred and Income Term Fund during the second quarter worth $73,000. Cetera Advisors LLC purchased a new position in Nuveen Preferred and Income Term Fund in the first quarter valued at about $298,000. Wedbush Securities Inc. grew its stake in shares of Nuveen Preferred and Income Term Fund by 10.6% during the second quarter. Wedbush Securities Inc. now owns 17,274 shares of the company’s stock valued at $336,000 after acquiring an additional 1,655 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Nuveen Preferred and Income Term Fund during the second quarter valued at about $717,000. Finally, Chicago Partners Investment Group LLC grew 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 valued at $1,801,000 after acquiring an additional 5,672 shares in the last quarter.

Nuveen Preferred and Income Term Fund Trading Down 0.4 %

Shares of NYSE:JPI traded down $0.07 on Friday, hitting $20.35. 12,889 shares of the company’s stock were exchanged, compared to its average volume of 52,969. The firm’s 50-day moving average is $20.82 and its 200 day moving average is $20.10. Nuveen Preferred and Income Term Fund has a 1-year low of $17.89 and a 1-year high of $21.42.

Nuveen Preferred and Income Term Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.166 per share. This represents a $1.99 dividend on an annualized basis and a dividend yield of 9.79%. The ex-dividend date is Friday, December 13th.

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.