Nuveen Preferred and Income Fund (JPT)

NEW YORK--(BUSINESS WIRE)--The mergers of Nuveen Preferred and Income Fund (NYSE: JPT) and Nuveen Preferred & Income Securities Fund (NYSE: JPS) into Nuveen Preferred & Income Opportunities Fund (NYSE: JPC) were successfully completed prior to the opening of the New York Stock Exchange on November 6, 2023. The fund's newly consolidated portfolio contains nearly $4 billion in assets under management—the largest among listed preferred securities closed-end funds. Through the mergers, a wh.

NEW YORK--(BUSINESS WIRE)--Nuveen today announced that three Nuveen Closed-End Funds have declared pre-merger distributions. The specific distribution dates and amounts are detailed below. As previously announced, common and preferred shareholders, as applicable, of Nuveen Preferred and Income Fund (NYSE: JPT), Nuveen Preferred & Income Securities Fund (NYSE: JPS), and Nuveen Preferred & Income Opportunities Fund (NYSE: JPC), have approved a proposal to merge the funds. The mergers will.

Nuveen has announced plans to merge the Nuveen Preferred Securities Income Fund and Nuveen Preferred and Income Fund into the Nuveen Preferred & Income Opportunities Fund. I briefly review each CEF, including how they invest currently. I then combined their holdings to come up with my pro forma of what JPC will look like post-merger. I provide actionable paths forward for holders of each of the three CEFs. In short, stay the course.

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.

Only funds with coverage >100% are considered. Top lists of discount, yield, DxY and DxYxZ are given.

NEW YORK--(BUSINESS WIRE)--The Boards of Trustees of Nuveen Preferred and Income Fund (NYSE: JPT), Nuveen Preferred & Income Securities Fund (NYSE: JPS), and Nuveen Preferred & Income Opportunities Fund (NYSE: JPC) have approved a proposal to merge the funds.

Today, I wanted to take a broader look at the preferred closed-end fund space. After struggling for most of the last year due to rapidly-rising interest rates, the latest banking failures sent preferred CEFs spiraling.

Only funds with yields over 8%, coverage higher than 90% and trading at a discount are considered. Top lists of discount, yield, DxY and DxYxZ are given.

Only funds with coverage >100% are considered. Top lists of discount, yield, DxY, and DxYxZ are given.

Weekly Closed-End Fund Roundup: SPE Tender, GUT Rights, JPT/FTF Results (March 6, 2022)

CEF Weekly Market Review: When It Rains It Pours

The stock market has seen a noticeable reversal over the last few days. The moves in the CEF market have been fairly benign so far, a result of a number of factors which have lowered its beta relative to stocks.

Tower Research Capital LLC TRC lifted its holdings in Macerich Co (NYSE:MAC) by 151.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 10,282 shares of the real estate investment trust’s stock after acquiring an additional 6,199 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Macerich were worth $58,000 as […]

Invesco Ltd. increased its position in shares of Cohen & Steers, Inc. (NYSE:CNS) by 15.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 333,073 shares of the asset manager’s stock after purchasing an additional 45,042 shares during the quarter. Invesco Ltd. owned […]

Jane Street Group LLC bought a new stake in Establishment Labs Holdings Inc (NASDAQ:ESTA) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 25,977 shares of the company’s stock, valued at approximately $375,000. Several other hedge funds and other institutional investors have also […]

Sawgrass Asset Management LLC lifted its holdings in shares of Microsoft Co. (NASDAQ:MSFT) by 39.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 538,366 shares of the software giant’s stock after purchasing an additional 151,962 shares during the quarter. Microsoft comprises about 7.6% of Sawgrass Asset […]