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

Nuveen Preferred and Income Term Fund (NYSE:JPI) was the target of a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 16,800 shares, an increase of 273.3% from the July 31st total of 4,500 shares. Based on an average daily volume of 78,100 shares, the short-interest ratio is currently 0.2 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Almitas Capital LLC raised its holdings 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 purchasing an additional 228,966 shares in the last quarter. Wedbush Securities Inc. increased its position in shares of Nuveen Preferred and Income Term Fund by 10.6% during the 2nd quarter. Wedbush Securities Inc. now owns 17,274 shares of the company’s stock valued at $336,000 after purchasing an additional 1,655 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Nuveen Preferred and Income Term Fund in the 2nd quarter worth $73,000. Cetera Advisors LLC acquired a new stake in shares of Nuveen Preferred and Income Term Fund in the first quarter valued at $298,000. Finally, Opal Wealth Advisors LLC bought a new position in Nuveen Preferred and Income Term Fund during the second quarter valued at about $39,000.

Nuveen Preferred and Income Term Fund Stock Performance

Shares of JPI traded up $0.16 during midday trading on Wednesday, hitting $19.62. 53,051 shares of the stock traded hands, compared to its average volume of 60,302. Nuveen Preferred and Income Term Fund has a 1-year low of $16.25 and a 1-year high of $19.93. The business’s 50 day moving average price is $19.61 and its two-hundred day moving average price is $19.23.

Nuveen Preferred and Income Term Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $0.166 per share. This represents a $1.99 dividend on an annualized basis and a dividend yield of 10.15%. The ex-dividend date of this dividend is Friday, September 13th. This is a boost from Nuveen Preferred and Income Term Fund’s previous monthly dividend of $0.10.

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.