NPFD: Distribution Bump Amid Activist Pressure [Seeking Alpha]
Nuveen Variable Rate Preferred & Income Fund (NPFD)
Company Research
Source: Seeking Alpha
Saba Capital Management has initiated a position in NPFD and filed a preliminary proxy for the election of a new independent trustee. NPFD's discount has narrowed, but it is still at an attractive level to consider investing in the preferred fund with the potential catalyst of rate cuts for a brighter future. This idea was discussed in more depth with members of my private investing community, CEF/ETF Income Laboratory. Learn More » Written by Nick Ackerman, co-produced by Stanford Chemist. Nuveen Variable Rate Preferred & Income Fund ( NYSE: NPFD announced a sizeable distribution boost with their February announcement. This raise itself was shortly after a raise in the distribution announced back in December 2023 as well. Shortly after the fund's inception, the Fed began hiking short-term interest rates aggressively. This caused many leveraged funds, including NPFD, to cut their distributions several times. With the Fed expected to lower rates in the next year or two, that s
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Sec Filings
- 5/8/24 - Form DFAN14A
- 5/7/24 - Form DEFA14A
- 4/30/24 - Form DEFA14A
- NPFD's page on the SEC website