Nuveen Preferred & Income Opportunities Fund (NYSE:JPC) Stock Price Passes Below 200 Day Moving Average – Time to Sell?

Nuveen Preferred & Income Opportunities Fund (NYSE:JPC)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.14 and traded as low as $8.04. Nuveen Preferred & Income Opportunities Fund shares last traded at $8.0550, with a volume of 929,663 shares.

Nuveen Preferred & Income Opportunities Fund Price Performance

The company’s 50-day moving average is $8.16 and its two-hundred day moving average is $8.14.

Nuveen Preferred & Income Opportunities Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid a $0.0625 dividend. The ex-dividend date is Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 9.4%.

Hedge Funds Weigh In On Nuveen Preferred & Income Opportunities Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its stake in Nuveen Preferred & Income Opportunities Fund by 7.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 308,490 shares of the financial services provider’s stock valued at $2,474,000 after acquiring an additional 21,106 shares in the last quarter. Prospera Financial Services Inc boosted its position in Nuveen Preferred & Income Opportunities Fund by 9.7% during the 2nd quarter. Prospera Financial Services Inc now owns 51,542 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 4,558 shares during the period. Allworth Financial LP grew its stake in shares of Nuveen Preferred & Income Opportunities Fund by 106.2% in the second quarter. Allworth Financial LP now owns 17,661 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 9,096 shares in the last quarter. Evolution Wealth Advisors LLC bought a new position in shares of Nuveen Preferred & Income Opportunities Fund in the second quarter worth $81,000. Finally, Creative Planning increased its holdings in shares of Nuveen Preferred & Income Opportunities Fund by 13.7% during the second quarter. Creative Planning now owns 12,482 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 1,507 shares during the period.

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.