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

Nuveen Preferred and Income Term Fund (NYSE:JPI) announced a monthly dividend on Monday, June 3rd, Zacks reports. Investors of record on Friday, June 14th will be paid a dividend of 0.098 per share on Monday, July 1st. This represents a $1.18 dividend on an annualized basis and a dividend yield of 6.08%. The ex-dividend date of this dividend is Friday, June 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

Shares of NYSE JPI traded up $0.02 during mid-day trading on Wednesday, reaching $19.35. The company had a trading volume of 21,614 shares, compared to its average volume of 48,572. The company has a 50-day moving average price of $19.10 and a two-hundred day moving average price of $18.66. Nuveen Preferred and Income Term Fund has a 1-year low of $16.25 and a 1-year high of $19.55.

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.