Nuveen Preferred and Income 2022 Term Fund (NYSE:JPT) Sees Significant Growth in Short Interest

Nuveen Preferred and Income 2022 Term Fund (NYSE:JPT) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 10,700 shares, an increase of 256.7% from the September 15th total of 3,000 shares. Based on an average trading volume of 9,600 shares, the short-interest ratio is presently 1.1 days.

NYSE JPT traded down $0.02 on Thursday, hitting $24.91. 3,465 shares of the company’s stock traded hands, compared to its average volume of 11,048. Nuveen Preferred and Income 2022 Term Fund has a 1-year low of $22.63 and a 1-year high of $26.40. The firm’s 50-day moving average price is $25.06 and its two-hundred day moving average price is $24.91.

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 1st. Shareholders of record on Friday, October 15th will be paid a dividend of $0.119 per share. This represents a $1.43 annualized dividend and a yield of 5.73%. The ex-dividend date is Thursday, October 14th.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wolverine Asset Management LLC acquired a new stake in Nuveen Preferred and Income 2022 Term Fund during the 1st quarter valued at approximately $72,000. Hennion & Walsh Asset Management Inc. acquired a new stake in Nuveen Preferred and Income 2022 Term Fund during the 1st quarter valued at approximately $254,000. National Asset Management Inc. acquired a new stake in Nuveen Preferred and Income 2022 Term Fund during the 2nd quarter valued at approximately $291,000. Shaker Financial Services LLC acquired a new stake in Nuveen Preferred and Income 2022 Term Fund during the 2nd quarter valued at approximately $592,000. Finally, Royal Bank of Canada lifted its stake in Nuveen Preferred and Income 2022 Term Fund by 5.6% during the 2nd quarter. Royal Bank of Canada now owns 29,070 shares of the company’s stock valued at $726,000 after acquiring an additional 1,550 shares during the period.

Nuveen Preferred and Income 2022 Term Fund Company Profile

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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