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The Nuveen Credit Opportunities 2022 Target Term Fund (NYSE: JCO) has officially terminated and liquidated as of June 1, 2022, consistent with its investment objectives. Initially launched on March 28, 2017, the fund aimed to provide high current income and return an Original NAV of $9.85 per share at termination. However, due to unfavorable market conditions, the final liquidating distribution is $7.9446 per share. Over its tenure, the fund distributed a total of $8.0159 per share to investors, falling short of its original target.
Nuveen announced a special income distribution for its Nuveen Credit Opportunities 2022 Target Term Fund (NYSE: JCO), declaring $0.0713 per share. The record date is May 25, 2022, with an ex-dividend date of May 24, 2022, and payable date set for May 31, 2022. The fund plans to terminate and liquidate on or about June 1, 2022. The current net asset value (NAV) of the fund is $8.03, reduced by the declared distribution. JCO does not foresee returning to its original NAV of $9.85 due to market conditions.
The Nuveen Credit Opportunities 2022 Target Term Fund (NYSE: JCO) has officially entered its wind-up period, with plans to liquidate its portfolio by June 1, 2022. The fund aims to return its original net asset value of $9.85 to shareholders, but recent market conditions have increased the risk of achieving this goal. While transitioning to higher-quality, short-term securities during the wind-up, the fund will limit income available for dividends. Nuveen manages $65 billion in closed-end funds, focusing on income for investors.
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