Nuveen Preferred & Income Opportunities Fund (NYSE:JPC) Share Price Passes Above 50 Day Moving Average – Here’s Why

Nuveen Preferred & Income Opportunities Fund (NYSE:JPC)’s share price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $7.85 and traded as high as $7.90. Nuveen Preferred & Income Opportunities Fund shares last traded at $7.8850, with a volume of 853,496 shares changing hands.

Nuveen Preferred & Income Opportunities Fund Price Performance

The firm has a 50-day moving average price of $7.85 and a 200-day moving average price of $7.97.

Nuveen Preferred & Income Opportunities Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be paid a $0.0625 dividend. This represents a c) annualized dividend and a yield of 9.5%. The ex-dividend date of this dividend is Wednesday, July 15th.

Hedge Funds Weigh In On Nuveen Preferred & Income Opportunities Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in JPC. Royal Bank of Canada boosted its holdings in shares of Nuveen Preferred & Income Opportunities Fund by 154.9% during the 1st quarter. Royal Bank of Canada now owns 2,881,952 shares of the financial services provider’s stock valued at $21,730,000 after buying an additional 1,751,478 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Nuveen Preferred & Income Opportunities Fund by 5.6% in the 1st quarter. Bank of America Corp DE now owns 4,777,122 shares of the financial services provider’s stock worth $36,019,000 after acquiring an additional 254,855 shares in the last quarter. Kestra Advisory Services LLC increased its stake in shares of Nuveen Preferred & Income Opportunities Fund by 56.8% in the 4th quarter. Kestra Advisory Services LLC now owns 657,118 shares of the financial services provider’s stock worth $5,329,000 after acquiring an additional 237,977 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Nuveen Preferred & Income Opportunities Fund by 176.5% in the 4th quarter. Jane Street Group LLC now owns 318,905 shares of the financial services provider’s stock worth $2,586,000 after acquiring an additional 203,579 shares in the last quarter. Finally, Wright Wealth LLC purchased a new position in Nuveen Preferred & Income Opportunities Fund during the 4th quarter valued at about $1,403,000.

About Nuveen Preferred & Income Opportunities Fund

Nuveen Preferred & Income Opportunities Fund (NYSE:JPC) is a closed-end management investment company managed by Nuveen Asset Management, an affiliate of Teachers Insurance and Annuity Association of America (TIAA). The fund’s primary objective is to provide high current income and the potential for capital appreciation by investing in a diversified portfolio of preferred and other income-producing securities.

The fund focuses on preferred and convertible securities issued by U.S. and global corporations, with flexibility to invest in common stocks, corporate debt, exchange-traded debt obligations and other fixed-income instruments.