Nuveen Preferred and Income Term Fund (NYSE:JPI) Short Interest Down 26.8% in February

Nuveen Preferred and Income Term Fund (NYSE:JPI) saw a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 13,400 shares, a decline of 26.8% from the January 31st total of 18,300 shares. Based on an average daily volume of 25,900 shares, the days-to-cover ratio is currently 0.5 days.

Nuveen Preferred and Income Term Fund Price Performance

Shares of NYSE:JPI opened at $20.00 on Monday. The company’s fifty day moving average is $20.01 and its two-hundred day moving average is $20.28. Nuveen Preferred and Income Term Fund has a 12-month low of $18.68 and a 12-month high of $21.42.

Nuveen Preferred and Income Term Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.166 per share. This represents a $1.99 annualized dividend and a yield of 9.96%. The ex-dividend date of this dividend is Friday, February 14th.

Institutional Trading of Nuveen Preferred and Income Term Fund

Several large investors have recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC raised its stake in 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 valued at $329,000 after purchasing an additional 581 shares during the period. Cetera Investment Advisers increased its stake in shares of Nuveen Preferred and Income Term Fund by 9.5% in the fourth quarter. Cetera Investment Advisers now owns 22,360 shares of the company’s stock worth $438,000 after acquiring an additional 1,946 shares during the last quarter. Elequin Capital LP acquired a new position in shares of Nuveen Preferred and Income Term Fund in the fourth quarter worth $48,000. LPL Financial LLC increased its stake in shares of Nuveen Preferred and Income Term Fund by 3.2% in the fourth quarter. LPL Financial LLC now owns 102,047 shares of the company’s stock worth $2,000,000 after acquiring an additional 3,120 shares during the last quarter. Finally, IHT Wealth Management LLC increased its stake in shares of Nuveen Preferred and Income Term Fund by 32.7% in the fourth quarter. IHT Wealth Management LLC now owns 13,694 shares of the company’s stock worth $268,000 after acquiring an additional 3,378 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.