Benchmarking This CEF Sell-Off [Seeking Alpha]
Nuveen Preferred Securities & Income Opportunities Fund Common Shares (JPI)
US:NYSE Investor Relations:
nuveen.com/home/corporate/media/pressroom.aspx
Company Research
Source: Seeking Alpha
Summary We benchmark this week's CEF sell-off to previous periods of market volatility. Despite a substantial equity drawdown that is getting close to the December 2018 levels, CEFs have remained relatively resilient and are nowhere near previously distressed levels. We currently like JPI for its combination of yield and quality as well as JLS for its NAV resilience and discount valuation. The continuing market sell-off on the back of coronavirus spread fears has not stopped at the border of the CEF market, pushing NAVs lower and discounts wider. In this article, we benchmark the current sell-off against other historic episodes. Our basic conclusion is that we have much more to go before we get to levels we saw at the end of 2018. This article incorporates data as of the Wednesday (Feb 26th) close. Among our current picks are the Nuveen Preferred and Income Term Fund ( What's Moved To get our bearings, let's first see how CEF sector NAVs have moved in the past week. Source: ADS Analyt
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Sec Filings
- 10/11/24 - Form N-CEN
- 10/4/24 - Form N-CSR
- 9/25/24 - Form NPORT-P
- JPI's page on the SEC website