Nuveen Preferred & Income Term Fund

Nuveen Preferred & Income Term Fund operates as a closed-end investment fund. It seeks to provide high level current income and total return. The company was founded in 2003 and is headquartered in Chicago, IL.

Nuveen Preferred Securities & Income Opportunities Fund operates as a closed-end investment fund. It seeks to provide high level current income and total return. The company was founded in 2003 and is headquartered in Chicago, IL.

Aberdeen Income Credit Strategies Fund

Aberdeen Asia-Pacific Income Fund Inc

We review the CEF market valuation and performance through the fourth week of August and highlight recent market action. CEFs had a strong week, with most sectors finishing in the green, supported by lower Treasury yields. PIMCO Muni CEF coverage has increased - an expected outcome of its ARPS retirement. However, the size of the boost looks overdone.

CEF Weekly Review: Reverse Splits Are Never A Good Sign

Putnam High Income Securities Fund

Western Asset Diversified Income Fund

We review the CEF market valuation and performance through the third week of August and highlight recent market action. CEFs had a strong week, with most sectors finishing in the green, supported by lower Treasury yields. Tortoise plans to merge three MLP-focused CEFs into a new ETF, potentially eliminating discounts but don't call it an arbitrage.

CEF Weekly Review: Not Everything Is An Arbitrage

Nuveen Preferred & Income Term Fund successfully completed a tender offer, transitioning to a perpetual structure with only 37% of shareholders tendering their shares. Shareholders who tendered their shares will receive NAV for their holdings, while those who did not will continue to hold JPI and face risks associated with bank preferred equity. The corporate action led to an 8% gain for all shareholders in 2024 due to the discount to NAV moving to flat, with the CEF expected to start trading at a discount again post-transition.

JPI: Now A Perpetual CEF, Implications For Shareholders

NEW YORK--(BUSINESS WIRE)--Nuveen Preferred and Income Term Fund (NYSE: JPI) announced the final results of a tender offer. As previously announced, the fund conducted a tender offer allowing shareholders to offer up to 100% of their common shares for repurchase for cash at a price per share equal to 100% of the net asset value (NAV) per share as of the close of ordinary trading on the New York Stock Exchange on the expiration date of the tender offer. The tender offer expired on August 14, 202.

Nuveen Preferred and Income Term Fund Announces Final Results of Tender Offer and Increase in Distribution Rate

NEW YORK--(BUSINESS WIRE)--Nuveen Preferred and Income Term Fund (NYSE: JPI) announced the preliminary results of a tender offer. As previously announced, the fund conducted a tender offer allowing shareholders to offer up to 100% of their common shares for repurchase for cash at a price per share equal to 100% of the net asset value per share as of the close of ordinary trading on the New York Stock Exchange on the expiration date of the tender offer. The tender offer expired on August 14, 202.

Nuveen Preferred and Income Term Fund Announces Preliminary Results of Tender Offer

Neuberger Berman Intermediate Municipal Fund Inc

Flaherty & Crumrine Preferred Income OpportunityFund Inc

We review CEF market valuation and performance through the fourth week of July and highlight recent market action. The week was mixed for CEFs with a high level of volatility. Neuberger Berman hikes Muni CEF distribution by 43%.

CEF Weekly Review: Neuberger Berman Doesn't Want To Be Left Out

Bain Capital Specialty Finance Inc

Barings Global Short Duration High Yield Fund

Gladstone Capital

Nuveen Municipal Credit Income Fund

Blue Owl Capital Corp

Blue Owl Capital Corp III

PGIM Shrt Duratin Hgh Yld Opprtnts Fund

Income assets and financial markets have surged, with only local EM debt in the red year-to-date, due to dollar strength. Our countercyclical approach has led to the culling of high-flyers like BDC Gladstone Capital and the CEF Nuveen Preferred and Income Term Fund. We highlight opportunities in securities that have lagged the market across the CEF and BDC sectors.

Opportunities In Income Securities That Have Lagged The Rally

NEW YORK--(BUSINESS WIRE)--Shareholders of Nuveen Preferred and Income Term Fund (NYSE: JPI) have approved a proposal to amend the fund's declaration of trust to eliminate the fund's term structure, subject to the completion of a tender offer. The amendment will allow shareholders the opportunity to maintain their investment in JPI and its leveraged exposure to preferred and other income producing securities in lieu of the fund's scheduled termination. JPI today commenced its tender offer, whic.

Nuveen Preferred and Income Term Fund Announces Result of Shareholder Meeting and Commencement of Tender Offer

BlackRock Enhanced Government Fund

Western Asset High Yield Defined Opportunity Fund Inc

RiverNorth Capital and Income Fund

With market valuations back to expensive levels, we are looking at a number of alpha strategies in the CEF space. These include interval and term funds, relative value as well as leaning against investor flows. We highlight a number of attractive funds such as RSF, PFO, BGH and others.

Current Alpha Opportunities In The CEF Space

Nuveen Preferred & Income Term Fund primarily invests in fixed-income securities, limiting its ability to protect against inflation. The JPI closed-end fund has a lower yield than many of its peers, making it less appealing for income-focused investors. Despite the lower yield, the fund has delivered strong performance, outperforming major fixed-income indices and appreciating by 16.53% since October 2023.

JPI: Some Things To Like, But Might Only Be A Short-Term Play

Nuveen Floating Rate Income Fund

Nuveen Global High Income Fund

Nuveen Mortgage Opportunity Term Fund

Nuveen Multi-Market Income Fund

Nuveen Preferred & Income Opportunities Fund

Nuveen Credit Strategies Income Fund

Nuveen Real Asset Income & Growth Fund

Nuveen California Quality Municipal Income Fund

Nuveen Quality Municipal Income Fund

Nuveen New York Quality Muni Income Fund

Nuveen Arizona Quality Municipal Income Fund

Nuveen Build America Bond Fund

Nuveen California Municipal Value Fund

Nuveen Dynamic Municipal Opportunities Fund

Nuveen AMT-Free Quality Municipal Income Fund

Nuveen Select Maturity Municipal Fund

Nuveen California AMT-Free Quality Municipal Income Fund

Nuveen Multi-Asset Income Fund

Nuveen Municipal Credit Opportunities Fund

Nuveen Municipal Income Fund Inc

Nuveen Minnesota Quality Municipal Income Fund

Nuveen Massachusetts Quality Municipal Income Fund

Nuveen Municipal High Income Opportunity Fund

Nuveen New York Municipal Value Fund

Nuveen Missouri Quality Municipal Income Fund

Nuveen Core Plus Impact Fund

Nuveen Variable Rate Preferred & Income Fund

Nuveen Virginia Quality Municipal Income Fund

Nuveen Pennsylvania Quality Municipal Income Fund

Nuveen New York AMT

Nuveen Municipal Value Fund Inc

Nuveen AMT-Free Municipal Value Fund

Nuveen AMT-Free Municipal Credit Income Fund

Nuveen California Select Tax-Free Income Portfolio

Nuveen New Jersey Quality Municipal Income Fund

Nuveen New York Select Tax-Free Income Portfolio

Nuveen Select Tax-Free Income Portfolio

NEW YORK--(BUSINESS WIRE)--Several Nuveen closed-end funds have declared distributions. These funds represent investment strategies for investors seeking diversified sources of cash flow to prepare for and sustain their retirement income needs. For further information regarding fund distributions, including earnings, undistributed net investment income, and notices, please visit www.nuveen.com/cef. Additionally, several funds have announced distribution increases of up to 71%. The distribution.

Nuveen Closed-End Funds Declare Distributions

Virtus AllianzGI Convertible & Income 2024 Target Term Fund

BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund Inc

Invesco High Income 2024 Target Term Fund 

Block

Wayfair

There are three types of closed-end fund structures: perpetual, term, and target term. Term funds aim to minimize the discount at which the fund trades versus its share price. Today we have four funds that are nearing their completion dates. JPI, DCF, CBH, and IHTA. We'll go through them one-by-one. Term funds are similar to buying a discounted bond that is nearing its maturity. There are a few other risks that are involved here.

Play The Odds With Term Funds: Annualized Gains Up To 15%

John Hancock Tax-Advantaged Global Shareholder Yield Fund

We review CEF market valuation and performance through the fourth week of March and highlight recent market action. The CEF market saw a solid rally, with equity-linked sectors leading the way. John Hancock Equity CEF HTY is proposing a merger with its mutual fund - this CEF to OEF merger carries a number of benefits for the manager.

CEF Weekly Review: The Benefits Of An Open-Ended Fund Merger

MFS Special Value Trust

We review CEF market valuation and performance through the third week of February and highlight recent market action. CEF performance was mixed, with MLPs and EM Equity funds outperforming. It's safe to ignore the word arbitrage when used in the CEF context.

CEF Weekly Review: Treat The Word Arbitrage Loosely

PIMCO Dynamic Income Strategy Fund

We review CEF market valuation and performance through the first week of February and highlight recent market action. All but one sector rallied this week despite Powell taking away the March cut punchbowl. Invesco hiked the dividends of its Muni CEFs by 10-23%, following the lead of Nuveen and BlackRock.

CEF Weekly Review: Invesco Succumbs To Peer Pressure

The preferred CEF JPI has delivered on its term structure by offering investors and exist at the NAV. While there are always risks in the termination process, these are mitigated by a number of factors. The fund offers a strong near-term tactical opportunity.

JPI: This Preferred CEF Delivers On Its Term Structure

Nuveen Preferred & Income Term Fund is a term CEF that is set to liquidate in August 2024. The fund manager and its Board of Trustees have proposed to make JPI a perpetual CEF, eliminating the term structure. Existing shareholders are advised to vote in favor of the conversion to mitigate market risk associated with the liquidation.

JPI: Nuveen Making A Smart Move

NEW YORK--(BUSINESS WIRE)--The Board of Trustees of Nuveen Preferred and Income Term Fund (NYSE: JPI) has approved a proposal that will allow shareholders of the fund the opportunity to maintain their investment in the fund and its leveraged exposure to preferred and other income producing securities. In light of the upcoming scheduled termination of JPI on August 31, 2024, the proposal asks shareholders to vote to amend the fund's declaration of trust to eliminate the fund's term structure. If.

Nuveen Preferred and Income Term Fund Announces Shareholder Proposal

NEW YORK--(BUSINESS WIRE)--Nuveen Closed-End Funds today announced that the Board of Trustees of the Funds has approved the regular monthly and quarterly distributions. In addition, the Board of Trustees has approved updated distribution polices described below under “Monthly & Quarterly Distributions” for The Nuveen Preferred & Income Opportunities Fund (NYSE: JPC), Nuveen Preferred and Income Term Fund (NYSE: JPI), Nuveen Variable Rate Preferred & Income Fund (NYSE: NPFD), Nuveen.

Nuveen Closed-End Funds Declare Distributions and Updates to Distribution Policies

Cohen & Steers Ltd. Duration Preferred & Income Fund, Inc.

iShares Preferred and Income Securities ETF 

I love preferred stocks because they combine several factors of both stocks and bonds to create a powerful combo equity.

Turbo-Charge Your Returns With These 3 Preferred Closed-End Funds

The Nuveen Preferred and Income Term Fund is a term closed-end fund that primarily invests in preferred securities. Investors are concerned about the fund's performance as it approaches its termination date next year, following the recent struggles of IHIT - another term fund. JPI has a relatively typical preferred CEF portfolio, with a focus on financials and a significant allocation to floating-rate securities and contingent capital bonds.

JPI: A Likely Alpha Opportunity For This Term Preferred CEF

Nuveen Preferred & Income Term Fund offers a 7.07% yield, which compares respectably to most alternatives today. The JPI closed-end fund is set to expire next year and its shares are currently trading at a discount, providing potential for capital gains. The fund primarily invests in preferred stock and other income-producing securities, but its exposure to interest rate fluctuations poses risks.

JPI: An Interesting Opportunity For Yield And Capital Gains

Eagle Point Credit

Eagle Point Credit Company Inc - 6.6875% NT REDEEM 30/04/2028 USD 25

Eagle Point Income Company Inc

Wells Fargo

We take a look at the action in preferreds and baby bonds through the third week of July and highlight some of the key themes we are watching. Preferreds mostly rallied on the week as credit spreads continued to tighten in line with the soft landing narrative. Term preferred yields remain opaque to many income investors, resulting in inefficient pricing and opportunities.

Preferreds Weekly Review: Term Preferreds Yields Aren't Well Understood

Duff & Phelps Global Utility Income Fund Inc

Invesco High Income 2023 Target Term Fund

XAI Octagon Floating Rate & Alternative Income Term Trust

We review CEF market valuation and performance through the third week of June and highlight recent market action. CEFs were mostly up on the week due to improving risk sentiment. We discuss a common CEF triple whammy that investors ought to be aware of.

CEF Weekly Review: Watch Out For CEF Triple Whammies

Blackstone/GSO Senior Floating Rate Term Fund

Credit Suisse Asset Management Income Fund

Credit Suisse High Yield Bond Fund

Western Asset Mortgage Opportunity Fund

Allspring Income Opportunities Fund

Allspring Global Dividend Opportunity Fund

Wells Fargo Utilities and High Income Fund

Western Asset Global Corp Defined Opportunity Fund Inc

Nuveen Preferred & Income 2022 Term Fund

We review CEF market valuation and performance through the third week of May and highlight recent market action. CEFs were mostly down on the week as rising Treasury yields were the key headwind.

News for Nuveen Preferred & Income Term Fund ETF (JPI)