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Nuveen Preferred and Income 2022 Term Fund of Beneficial Interest
This article uses market data as of Tuesday close.
A sharp drawdown period for preferred stocks has hammered asset coverage and increased leverage across the CEF sector. Given the sharp losses in the sector, asset coverage may be the last thing on investors' minds. Asset coverage, however, is key in the funds' ability to sustain distributions. This is because of the conditions that the Investment Company Act of 1940 imposes on funds.
In the preferred CEF sector, we like the Nuveen Preferred and Income 2022 Term Fund (JPT) which appears the safest in