Nuveen Preferred Securities Income Fund (NYSE:JPS) Shares Cross Below 200-Day Moving Average of $6.27

Nuveen Preferred Securities Income Fund (NYSE:JPS) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.27 and traded as low as $6.21. Nuveen Preferred Securities Income Fund shares last traded at $6.21, with a volume of 2,995,700 shares traded.

Nuveen Preferred Securities Income Fund Stock Performance

The company has a 50-day moving average of $6.09 and a 200 day moving average of $6.27.

Nuveen Preferred Securities Income Fund Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 3rd will be paid a dividend of $0.036 per share. This represents a $0.43 dividend on an annualized basis and a yield of 6.96%. The ex-dividend date of this dividend is Thursday, November 2nd.

Hedge Funds Weigh In On Nuveen Preferred Securities Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Planning boosted its stake in Nuveen Preferred Securities Income Fund by 521.2% during the third quarter. Creative Planning now owns 65,364 shares of the real estate investment trust’s stock worth $403,000 after buying an additional 54,842 shares during the last quarter. Financial Gravity Asset Management Inc. lifted its stake in Nuveen Preferred Securities Income Fund by 1,800.0% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 177,175 shares of the real estate investment trust’s stock worth $1,131,000 after acquiring an additional 167,850 shares in the last quarter. Harbour Investments Inc. lifted its stake in Nuveen Preferred Securities Income Fund by 48.9% during the 3rd quarter. Harbour Investments Inc. now owns 7,000 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 2,300 shares in the last quarter. Morgan Stanley lifted its stake in Nuveen Preferred Securities Income Fund by 20.9% during the 3rd quarter. Morgan Stanley now owns 7,581,098 shares of the real estate investment trust’s stock worth $46,775,000 after acquiring an additional 1,310,961 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its stake in Nuveen Preferred Securities Income Fund by 6.2% during the 3rd quarter. Penserra Capital Management LLC now owns 1,629,897 shares of the real estate investment trust’s stock worth $10,056,000 after acquiring an additional 95,414 shares in the last quarter.

About Nuveen Preferred Securities Income Fund

Nuveen Preferred Securities Income Fund is a closed-ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Spectrum Asset Management, Inc It invests in the fixed income markets of the United States. The fund primarily invests in investment grade preferred debt securities, convertible debt securities, and convertible preferred securities that are rated BBB/Baa or better by S&P, Moody's, or Fitch.