Nuveen Preferred and Income Fund (NYSE:JPT) Short Interest Up 6,200.0% in April

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Nuveen Preferred and Income Fund (NYSE:JPTGet Rating) was the target of a large growth in short interest in April. As of April 30th, there was short interest totalling 6,300 shares, a growth of 6,200.0% from the April 15th total of 100 shares. Based on an average daily volume of 12,400 shares, the short-interest ratio is presently 0.5 days.

Hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN increased its holdings in Nuveen Preferred and Income Fund by 9.1% during the 2nd quarter. Wells Fargo & Company MN now owns 80,492 shares of the company’s stock worth $2,012,000 after purchasing an additional 6,747 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Nuveen Preferred and Income Fund by 4.3% in the 4th quarter. Stifel Financial Corp now owns 57,956 shares of the company’s stock valued at $1,424,000 after acquiring an additional 2,369 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in shares of Nuveen Preferred and Income Fund in the 1st quarter valued at approximately $284,000. Chicago Partners Investment Group LLC increased its holdings in shares of Nuveen Preferred and Income Fund by 98.1% in the 4th quarter. Chicago Partners Investment Group LLC now owns 24,966 shares of the company’s stock valued at $576,000 after acquiring an additional 12,364 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Nuveen Preferred and Income Fund by 4.0% in the 4th quarter. Raymond James & Associates now owns 22,747 shares of the company’s stock valued at $559,000 after acquiring an additional 877 shares during the last quarter.

Nuveen Preferred and Income Fund stock traded down $0.17 during midday trading on Wednesday, hitting $19.57. 2,787 shares of the company were exchanged, compared to its average volume of 13,485. The stock has a fifty day simple moving average of $21.04. Nuveen Preferred and Income Fund has a fifty-two week low of $19.51 and a fifty-two week high of $26.40.

The business also recently declared a monthly dividend, which will be paid on Wednesday, June 1st. Investors of record on Friday, May 13th will be given a dividend of $0.135 per share. This represents a $1.62 annualized dividend and a yield of 8.28%. The ex-dividend date of this dividend is Thursday, May 12th.

About Nuveen Preferred and Income Fund (Get Rating)

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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