Nuveen Preferred and Income Term Fund (NYSE:JPI) Short Interest Up 237.4% in April

Nuveen Preferred and Income Term Fund (NYSE:JPI) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 49,600 shares, an increase of 237.4% from the March 31st total of 14,700 shares. Based on an average daily trading volume, of 53,600 shares, the days-to-cover ratio is currently 0.9 days.

Nuveen Preferred and Income Term Fund Price Performance

NYSE JPI opened at $18.82 on Friday. Nuveen Preferred and Income Term Fund has a 52-week low of $16.02 and a 52-week high of $19.28. The business’s 50-day moving average price is $18.92 and its 200 day moving average price is $18.16.

Nuveen Preferred and Income Term Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be issued a dividend of $0.098 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 6.25%. The ex-dividend date of this dividend is Friday, April 12th.

Institutional Investors Weigh In On Nuveen Preferred and Income Term Fund

Institutional investors have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC boosted its holdings in Nuveen Preferred and Income Term Fund by 7.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 79,159 shares of the company’s stock valued at $1,474,000 after purchasing an additional 5,369 shares in the last quarter. Stifel Financial Corp raised its position in shares of Nuveen Preferred and Income Term Fund by 6.4% during the 4th quarter. Stifel Financial Corp now owns 246,765 shares of the company’s stock worth $4,511,000 after purchasing an additional 14,855 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Nuveen Preferred and Income Term Fund during the 4th quarter worth approximately $26,000. Blue Bell Private Wealth Management LLC acquired a new position in shares of Nuveen Preferred and Income Term Fund during the 1st quarter worth approximately $73,000. Finally, International Assets Investment Management LLC raised its holdings in Nuveen Preferred and Income Term Fund by 1,751.8% in the 4th quarter. International Assets Investment Management LLC now owns 92,573 shares of the company’s stock valued at $1,692,000 after acquiring an additional 87,574 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.