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home / news releases / jpi xa0 the storm has passed for this bank preferred

JPI - JPI: The Storm Has Passed For This Bank Preferred Equity CEF

Nuveen Preferred and Income Term Fund of Beneficial Interest

2023-03-23 04:19:55 ET

Summary

  • Nuveen Preferred & Income Term Fund is a bank preferred equity CEF.
  • The vehicle runs a high leverage ratio of 40% and has been negatively affected by the regional banks crisis.
  • The fund has a high exposure to CoCo securities, which account for over 32% of holdings.
  • The bank turmoil has seen this CEF lose -15% in the past month.
  • Surprisingly, the fund's discount to NAV has been extremely resilient.

For further details see:

JPI: The Storm Has Passed For This Bank Preferred Equity CEF
Stock Information
Company Name: Nuveen Preferred and Income Term Fund of Beneficial Interest
Stock Symbol: JPI
Market: NYSE
Website: www.nuveen.com
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