JPI
Nuveen Preferred Securities & Income Opportunities Fund20.68
-0.04-0.19%
Sep 19, 4:00:03 PM EDT
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
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Key Stats
Market Cap
291.59MP/E (TTM)
9.89Basic EPS (TTM)
2.09Dividend Yield
0%Recent Filings
8-K
By-laws drop control share rules
Nuveen Preferred and Income Term Fund eliminated its suspended 'control share' provisions from the by-laws on February 28, 2024, effective immediately. Previously halted in 2022, these rules had restricted shareholder voting power in control acquisitions. The update simplifies governance without other changes. This removes a dormant barrier to ownership shifts.
8-K
Board consolidation for efficiencies
Nuveen Preferred and Income Term Fund announced board consolidation across its fund complex on October 13, 2023, to streamline operations and cut costs for shareholders. Effective January 1, 2024, the board shrinks to ten members, adding independent trustees Thomas J. Kenny and Loren M. Starr from TIAA-CREF boards, while Jack B. Evans and William C. Hunter retire December 31. This move promises efficiencies in vendor negotiations and marketing, yet hinges on seamless integration.
8-K
By-laws suspend control share rule
On February 24, 2022, the Board of Trustees of Nuveen Preferred and Income Term Fund amended its by-laws to suspend the control share provision, following a U.S. District Court ruling on February 18 that deemed it violative of the 1940 Act. This provision had aimed to shield shareholders from opportunistic hedge fund takeovers by restricting voting rights on acquired shares. The Board plans to appeal, vowing to protect long-term income strategies. Suspension holds until the judgment is overturned.
8-K
Nuveen amends fund By-Laws
On October 5, 2020, Nuveen Preferred and Income Term Fund's Board adopted amended and restated By-Laws, tightening advance notice deadlines for 2021 shareholder proposals and nominations—such as March 2 for Rule 14a-8 submissions. These changes, part of a broader update across multiple Nuveen closed-end funds, aim to shield long-term shareholders from short-term opportunists. A new Control Share By-Law curbs voting rights for acquisitions hitting 10% or more ownership unless approved by others. Boards guard the fund.
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