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Nuveen Preferred and Income 2022 Term Fund of Beneficial Interest
Over the last few weeks, we have discussed the details of leverage changes of various PIMCO CEFs across a number of articles. The reason for our focus on changes in leverage and borrowings has to do with the outsized impact these fund characteristics have on fund earnings, distribution sustainability and NAV performance. In this article, we turn our attention to the largest CEF group - Nuveen - and in particular the changes in borrowings and leverage across the month of April.