Short Interest in Nuveen Preferred and Income Fund (NYSE:JPT) Increases By 177.8%

Nuveen Preferred and Income Fund (NYSE:JPT – Get Free Report) was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 2,500 shares, a growth of 177.8% from the July 15th total of 900 shares. Based on an average daily trading volume, of 9,700 shares, the days-to-cover ratio is currently 0.3 days.

Nuveen Preferred and Income Fund Price Performance

Shares of Nuveen Preferred and Income Fund stock opened at $16.33 on Friday. The business has a fifty day simple moving average of $16.19 and a two-hundred day simple moving average of $16.75. Nuveen Preferred and Income Fund has a 12 month low of $14.70 and a 12 month high of $21.07.

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Nuveen Preferred and Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.093 per share. This represents a $1.12 annualized dividend and a yield of 6.84%. The ex-dividend date is Monday, August 14th.

Hedge Funds Weigh In On Nuveen Preferred and Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC purchased a new position in shares of Nuveen Preferred and Income Fund in the 4th quarter worth about $97,000. Susquehanna International Group LLP purchased a new position in shares of Nuveen Preferred and Income Fund in the 4th quarter worth about $321,000. International Assets Investment Management LLC purchased a new position in shares of Nuveen Preferred and Income Fund in the 4th quarter worth about $469,000. UBS Group AG raised its position in shares of Nuveen Preferred and Income Fund by 16.3% in the 4th quarter. UBS Group AG now owns 32,862 shares of the company’s stock worth $581,000 after purchasing an additional 4,598 shares during the last quarter. Finally, Logan Stone Capital LLC raised its position in shares of Nuveen Preferred and Income Fund by 22.4% in the 4th quarter. Logan Stone Capital LLC now owns 33,953 shares of the company’s stock worth $601,000 after purchasing an additional 6,220 shares during the last quarter.

Nuveen Preferred and Income Fund Company Profile

(Get Free Report)

Nuveen Preferred and Income 2022 Term Fund provides access to both the exchange-traded and over-the-counter preferred securities markets, seeking to capitalize on price discrepancies that may occur between these two markets. The Fund also has the flexibility to opportunistically invest in preferred securities with various coupon structures including fixed-to-floating structures, which may help reduce interest rate risk and enhance performance in a rising rate environment.

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