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

Nuveen Preferred and Income Term Fund (NYSE:JPI) announced a monthly dividend on Friday, January 3rd,Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 10.01%. The ex-dividend date is Wednesday, January 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 Stock Up 0.6 %

Shares of JPI traded up $0.11 during mid-day trading on Friday, reaching $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 52-week low of $18.26 and a 52-week high of $21.42. The stock has a 50 day moving average of $20.45 and a two-hundred day 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.