Nuveen Preferred and Income Term Fund to Issue Monthly Dividend of $0.10 (NYSE:JPI)

Nuveen Preferred and Income Term Fund (NYSE:JPI) announced a monthly dividend on Wednesday, May 1st, Zacks reports. Investors of record on Wednesday, May 15th will be paid a dividend of 0.098 per share on Monday, June 3rd. This represents a $1.18 annualized dividend and a dividend yield of 6.14%. The ex-dividend date is Tuesday, May 14th.

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

Nuveen Preferred and Income Term Fund Stock Performance

JPI traded up $0.14 during trading on Friday, hitting $19.14. 29,142 shares of the company’s stock traded hands, compared to its average volume of 50,631. Nuveen Preferred and Income Term Fund has a 12-month low of $16.02 and a 12-month high of $19.28. The company’s 50 day simple moving average is $18.94 and its two-hundred day simple moving average is $18.23.

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.