Nuveen Preferred and Income Term Fund Plans Monthly Dividend of $0.10 (NYSE:JPI)

Nuveen Preferred and Income Term Fund (NYSE:JPI) declared a monthly dividend on Monday, April 1st, Zacks reports. Stockholders of record on Monday, April 15th will be given a dividend of 0.098 per share on Wednesday, May 1st. This represents a $1.18 annualized dividend and a dividend yield of 6.18%. The ex-dividend date is Friday, April 12th.

Nuveen Preferred and Income Term Fund has decreased its dividend payment by an average of 8.1% annually over the last three years.

Nuveen Preferred and Income Term Fund Trading Down 0.8 %

Nuveen Preferred and Income Term Fund stock opened at $19.04 on Thursday. The stock has a 50 day moving average of $18.87 and a 200-day moving average of $18.01. Nuveen Preferred and Income Term Fund has a 52 week low of $16.02 and a 52 week high of $19.28.

Institutional Investors Weigh In On Nuveen Preferred and Income Term Fund

Institutional investors and hedge funds have recently made changes to their positions in the company. Harbour Investments Inc. increased its position in Nuveen Preferred and Income Term Fund by 100.0% in the fourth quarter. Harbour Investments Inc. now owns 2,000 shares of the company’s stock worth $37,000 after buying an additional 1,000 shares during the period. Comerica Bank increased its position in Nuveen Preferred and Income Term Fund by 8.8% in the fourth quarter. Comerica Bank now owns 6,790 shares of the company’s stock worth $124,000 after buying an additional 550 shares during the period. Money Concepts Capital Corp acquired a new stake in Nuveen Preferred and Income Term Fund in the fourth quarter worth $140,000. PNC Financial Services Group Inc. acquired a new stake in Nuveen Preferred and Income Term Fund in the second quarter worth $171,000. Finally, Susquehanna International Group LLP acquired a new stake in Nuveen Preferred and Income Term Fund in the first quarter worth $182,000.

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.