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

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC grew its holdings in shares of Nuveen Preferred and Income Term Fund by 1,982.1% during the 3rd quarter. International Assets Investment Management LLC now owns 77,809 shares of the company’s stock valued at $1,620,000 after acquiring an additional 74,072 shares in the last quarter. Chicago Partners Investment Group LLC lifted its position in Nuveen Preferred and Income Term Fund by 7.1% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 85,062 shares of the company’s stock worth $1,801,000 after acquiring an additional 5,672 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Nuveen Preferred and Income Term Fund during the second quarter valued at about $717,000. Truist Financial Corp raised its position in shares of Nuveen Preferred and Income Term Fund by 2.3% during the second quarter. Truist Financial Corp now owns 433,679 shares of the company’s stock valued at $8,435,000 after buying an additional 9,619 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of 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 valued at $6,782,000 after buying an additional 9,093 shares during the last quarter.

Nuveen Preferred and Income Term Fund Stock Performance

Shares of JPI traded down $0.07 during mid-day trading on Friday, reaching $20.35. 12,889 shares of the company’s stock traded hands, compared to its average volume of 52,969. Nuveen Preferred and Income Term Fund has a 12 month low of $17.89 and a 12 month high of $21.42. The business’s 50-day moving average price is $20.82 and its 200-day moving average price is $20.10.

Nuveen Preferred and Income Term Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.166 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.99 annualized dividend and a dividend yield of 9.79%.

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.