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

Nuveen Preferred and Income Term Fund (NYSE:JPI) announced a monthly dividend on Friday, January 3rd,Wall Street Journal reports. Investors of record on Wednesday, January 15th will be given a dividend of 0.166 per share on Monday, February 3rd. This represents a $1.99 dividend on an annualized basis and a yield of 10.01%. The ex-dividend date is Wednesday, January 15th.

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 Stock Up 0.6 %

Shares of NYSE JPI traded up $0.11 during trading on Friday, hitting $19.90. The company had a trading volume of 15,294 shares, compared to its average volume of 18,747. Nuveen Preferred and Income Term Fund has a fifty-two week low of $18.26 and a fifty-two week high of $21.42. The stock has a fifty day simple moving average of $20.45 and a two-hundred day simple moving average of $20.14.

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.