Nuveen Preferred and Income Term Fund (NYSE:JPI) to Issue $0.17 Monthly Dividend

Nuveen Preferred and Income Term Fund (NYSE:JPI) announced a monthly dividend on Friday, November 1st,NASDAQ Dividends reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.166 per share on Monday, December 2nd. This represents a $1.99 annualized dividend and a yield of 9.56%. The ex-dividend date of this dividend is Friday, November 15th.

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

Nuveen Preferred and Income Term Fund Price Performance

Shares of NYSE JPI traded up $0.01 during midday trading on Thursday, reaching $20.84. The company’s stock had a trading volume of 4,803 shares, compared to its average volume of 55,304. The firm has a 50 day moving average price of $20.70 and a 200-day moving average price of $19.90. Nuveen Preferred and Income Term Fund has a 12-month low of $17.00 and a 12-month high of $21.42.

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.