NUVEEN PREFERRED AND INCOME TERM FUND - $jpi STOCK NEWS

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01/18/2024 04:15 PM

News

Nuveen Preferred and Income Term Fund Announces Shareholder Proposal

Rhea-AI Summary

The Board of Trustees of Nuveen Preferred and Income Term Fund (JPI) has approved a proposal to allow shareholders to maintain their investment and leveraged exposure to preferred and other income producing securities. The proposal asks shareholders to vote to eliminate the fund's term structure before its scheduled termination on August 31, 2024. If approved, the fund will conduct a tender offer for 100% of its outstanding shares at net asset value, with potential changes to the fund's name and management fees. Nuveen, the fund sponsor, has $51 billion of assets under management across 48 CEFs.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

0.76%

NYSE:JPI

JPI Rankings

#3128 Ranked by Market Cap

#464 Ranked by Dividends

JPI Stock Data

Market Cap 436.55M

Float 22.77M

Insiders Ownership 0%

Institutions Ownership 19.42%

Short Percent 0.19%

Industry All Other Insurance Related Activities

Sector Finance and Insurance

Website Link

Country United States of America

City Boston

About JPI

nuveen is one of the world's largest asset managers, serving institutions, financial intermediaries and individual investors in more than 30 countries, providing investment expertise across the capital structure. in partnership with advisors and consultants, we create outcome-focused solutions that help investors achieve a more secure financial future. recognized as a leader in income generation, alternative investments and responsible investing, nuveen has award-winning capabilities that span both public and private asset classes. our investment approach is fueled by diversity of thought and a network of specialized investment teams with independent processes and best-in-class expertise.as the investment manager of tiaa, we honor a 100-plus year legacy of service and innovation based on enduring principles established by john nuveen and andrew carnegie. inspired by their vision, backed by size and scale, and empowered by private ownership, we are uniquely positioned to contribute mea