Welcome to our dedicated page for Nuveen Preferred Sec & Income Opp news (Ticker: jpi), a resource for investors and traders seeking the latest updates and insights on Nuveen Preferred Sec & Income Opp stock.
Nuveen Preferred Securities & Income Opportunities Fund (JPI) provides investors with income-focused strategies through preferred securities portfolio management. This news hub offers authorized updates from one of the world's largest asset managers.
Access all official JPI communications in one location, including earnings reports, dividend announcements, and portfolio strategy updates. Track material developments affecting this closed-end fund's performance and income distribution policies.
Our curated collection features:
- Quarterly earnings releases
- Strategic investment updates
- Dividend declarations
- Regulatory filings
- Market commentary from Nuveen's investment team
Bookmark this page for ongoing access to verified JPI developments. Combine these updates with independent research when making investment decisions.
Nuveen has announced a proposed merger between two of its preferred securities closed-end funds. The Nuveen Preferred Securities & Income Opportunities Fund (NYSE: JPI) will merge into the Nuveen Preferred & Income Opportunities Fund (NYSE: JPC), subject to shareholder approval.
The merger aims to create a larger fund with key benefits including lower net operating expenses and increased trading volume on the exchange for common shares. Proxy materials with detailed information are expected to be filed in the coming weeks.
Nuveen currently manages $53 billion in assets across 45 closed-end funds as of December 31, 2024, with over 35 years of experience in CEF management.
Nuveen Preferred and Income Term Fund (NYSE: JPI) announced the final results of its tender offer, where 8,672,542 common shares (38% of outstanding) were tendered at $20.0081 per share. As a result, the fund will implement several changes:
1. Elimination of the term structure effective August 19, 2024
2. Name change to "Nuveen Preferred Securities & Income Opportunities Fund"
3. 50% waiver of net management fees for the first year
4. Increase in monthly distribution rate by 69.4% to $0.1660 per share
These changes aim to enhance shareholder value and support secondary market trading. The fund may distribute from sources other than net investment income, potentially including return of capital.
Nuveen Preferred and Income Term Fund (NYSE: JPI) announced preliminary results of its tender offer, which expired on August 14, 2024. Approximately 37% of outstanding common shares (8,511,627 shares) were tendered. The offer allowed shareholders to repurchase up to 100% of their shares at 100% of the net asset value per share. The completion is subject to maintaining a minimum of $70 million in aggregate net assets after the tender.
If conditions are met, JPI plans to eliminate its term structure and change its name to 'Nuveen Preferred Securities & Income Opportunities Fund' on August 19, 2024. Nuveen will waive 50% of its net management fees for the first year following this change. The fund will continue trading on NYSE under the same ticker symbol.
Nuveen Preferred and Income Term Fund (NYSE: JPI) shareholders have approved amending the fund's declaration of trust to eliminate its term structure, subject to a tender offer completion. JPI has commenced a tender offer allowing shareholders to offer up to 100% of their common shares for repurchase at 100% of NAV, expiring on August 14, 2024. The offer's completion is contingent on the fund's aggregate common assets equaling or exceeding $70 million post-tender.
If successful, JPI's term structure will be eliminated, and it will be renamed 'Nuveen Preferred Securities & Income Opportunities Fund'. Nuveen will waive 50% of its net management fees for the first year following the change. If the tender offer fails, JPI will terminate as scheduled by August 31, 2024. The fund may reduce leverage and adjust investments during this period.
