Short Interest in Nuveen Preferred and Income Term Fund (NYSE:JPI) Declines By 76.4%

Nuveen Preferred and Income Term Fund (NYSE:JPI) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 11,000 shares, a decrease of 76.4% from the December 31st total of 46,700 shares. Based on an average daily trading volume, of 31,600 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On Nuveen Preferred and Income Term Fund

A number of large investors have recently made changes to their positions in JPI. Diversify Wealth Management LLC acquired a new stake in shares of Nuveen Preferred and Income Term Fund in the fourth quarter valued at approximately $319,000. Wealthcare Advisory Partners LLC lifted its holdings in shares of Nuveen Preferred and Income Term Fund by 3.6% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 16,777 shares of the company’s stock worth $329,000 after acquiring an additional 581 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Nuveen Preferred and Income Term Fund in the second quarter worth approximately $717,000. Kingswood Wealth Advisors LLC raised its position in shares of 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 worth $942,000 after buying an additional 21,020 shares during the period. Finally, International Assets Investment Management LLC grew its position in 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 valued at $1,620,000 after acquiring an additional 74,072 shares during the period.

Nuveen Preferred and Income Term Fund Stock Down 0.1 %

JPI traded down $0.03 on Wednesday, hitting $20.09. 12,715 shares of the company traded hands, compared to its average volume of 22,884. Nuveen Preferred and Income Term Fund has a 12-month low of $18.46 and a 12-month high of $21.42. The company has a 50 day moving average of $20.11 and a 200-day moving average of $20.22.

Nuveen Preferred and Income Term Fund Announces Dividend

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

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.