Nuveen Preferred & Income 2022 Term Fund

The full company name is Nuveen Preferred & Income Fund.

Nuveen Preferred & Income Opportunities Fund

Nuveen Preferred & Income Securities Fund

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.

Nuveen Preferred & Income Closed-End Funds Announce Completion of Mergers

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 Closed-End Funds Declare Pre-Merger Distributions

NEW YORK--(BUSINESS WIRE)--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 combine each of JPT and JPS into JPC. Subject to the satisfaction of certain customary closing conditions, the mergers are expected to become effective before the market opens on November.

Nuveen Preferred & Income Closed-End Funds Announce Shareholder Approval of Proposed Mergers

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.

JPC Is About To Absorb JPS And JPT: What That Means

Blackstone/GSO Senior Floating Rate Term Fund

Credit Suisse Asset Management Income Fund

Credit Suisse High Yield Bond Fund

Western Asset Mortgage Opportunity Fund

Wells Fargo Income Opportunities Fund

Allspring Global Dividend Opportunity Fund

Wells Fargo Utilities and High Income Fund

Western Asset Global Corp Defined Opportunity Fund Inc

Invesco High Income 2023 Target Term Fund

Nuveen Preferred & Income Term Fund

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.

CEF Weekly Review: Term CEFs Continue To Be Misunderstood

Highland Income Fund

Pioneer Diversified High Income Trust

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

The Quality Closed-End Fund Report, April 2023

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.

Nuveen Preferred Closed-End Funds Announce Proposed Mergers

Credit Suisse

Flaherty & Crumrine Dynamic Preferred & Income Fund

Flaherty & Crumrine Preferred Securities Income Fund Inc

Flaherty & Crumrine Total Return Fund Inc

First Trust Intermediate Duration Preferred & Income Fund

John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund

Cohen & Steers Ltd. Duration Preferred & Income Fund, Inc.

Nuveen Variable Rate Preferred & Income Fund

Flaherty & Crumrine Preferred Income Fund Inc

iShares Preferred and Income Securities ETF 

Flaherty & Crumrine Preferred Income OpportunityFund Inc

Cohen & Steers Select Preferred and Income Fund

Cohen & Steers Tax-Adv Pref Secs and Inc Fund

UBS Group AG

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.

Preferred Closed-End Funds: Out Of The Frying Pan Into The Fire

Ares Dynamic Credit Allocation Fund

ArrowMark Financial

Brandywine Global Income Opportunities Fund Inc

Western Asset Global High Income Fund

Western Asset Emerging Markets Debt Fund

Western Asset High Income Opportunity Fund Inc

KKR Income Opportunities Fund

PIMCO Dynamic Income Opportunities Fund

Principal Real Estate Income Fund

Pioneer High Income Trust

TCW Strategic Income Fund

Western Asset Diversified Income Fund

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.

The 'High-High-Low' Closed-End Fund Report, December 2022

Blackrock California Muni Income Trust

Barings Global Short Duration High Yield Fund

Eaton Vance California Municipal Income Trust

MFS Investment Grade Municipal Trust

DoubleLine Income Solutions Fund

BNY Mellon Strategic Municipal Bond Fund, Inc.

Eaton Vance Municipal Income 2028 Term Trust

Eaton Vance California Municipal Bond Fund

Federated Premier Municipal Income Fund

Western Asset High Income Fund

New American High Income Fund

Deutsche Strategic Municipal Income Trust

BlackRock MuniYield Pennsylvania Quality Fund

Nuveen Missouri Quality Municipal Income Fund

Nuveen Pennsylvania Quality Municipal Income Fund

Oxford Lane Capital

PIMCO Dynamic Income Fund

PIMCO Strategic Income Fund Inc

Cushing MLP & Infrastructure Total Return Fund

Invesco Pennsylvania Value Municipal Income Trust

Western Asset/Claymore Inflation-Linked Securities & Income Fund

Western Asset/Claymore Inflation-Linked Opportunities & Income Fund

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

Quality Closed-End Fund Report, November 2022

NEW YORK--(BUSINESS WIRE)--Nuveen Preferred and Income 2022 Term Fund (NYSE: JPT) announced the final results of a tender offer as well as an increase in its regular monthly distribution. As previously announced, the fund conducted a tender offer allowing shareholders to offer up to 100% of their common shares for repurchase for cash at a price per share equal to 100% of the net asset value per share determined on the date the tender offer expired. The tender offer expired on February 17, 2022

Nuveen Preferred and Income 2022 Term Fund Announces Final Results of Tender Offer and Increase in Distribution Rate

NEW YORK--(BUSINESS WIRE)--Nuveen Preferred and Income 2022 Term Fund (NYSE: JPT) announced the preliminary results of a tender offer. As previously announced, the fund conducted a tender offer allowing shareholders to offer up to 100% of their common shares for repurchase for cash at a price per share equal to 100% of the net asset value per share determined on the date the tender offer expired. The tender offer expired on February 17, 2022 at 5:00 p.m. Eastern time. Based on preliminary infor

Nuveen Preferred and Income 2022 Term Fund Announces Preliminary Results of Tender Offer

NEW YORK--(BUSINESS WIRE)--Nuveen Preferred and Income 2022 Term Fund (NYSE: JPT) today commenced a tender offer. As previously announced, the fund will conduct a tender offer allowing shareholders to offer up to 100% of their shares for repurchase for cash at a price per share equal to 100% of the net asset value per share determined on the date the tender offer expires. The tender offer will expire on February 17, 2022 at 5:00 p.m. Eastern time, or on such later date to which the offer is ext

Nuveen Preferred and Income 2022 Term Fund Announces Commencement of Tender Offer

NEW YORK--(BUSINESS WIRE)--Shareholders of Nuveen Preferred and Income 2022 Term Fund (NYSE: JPT) have approved a proposal to restructure the fund. The restructuring will allow shareholders the opportunity to maintain their investment in the fund and its exposure to a leveraged strategy focused on preferred and other income producing securities in lieu of the scheduled termination of the fund. Prior to the effectiveness of the restructuring, the fund will conduct a tender offer allowing shareho

Nuveen Preferred and Income 2022 Term Fund Announces Result of Special Shareholder Meeting

News for Nuveen Preferred & Income 2022 Term Fund ETF (JPT)