Nuveen Mortgage Opportunity Term Fund announces an Equity Buyback for 13,459,373 shares.
September 06, 2019 at 12:00 am
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Nuveen Mortgage Opportunity Term Fund (NYSE:JLS) announces a share repurchase program. Under the program, the company will repurchase up to 13,459,373 shares. The share repurchases will be funded from the proceeds of sales of securities in the Fund’s investment portfolio and from cash on hand. The offer is valid till October 7, 2019.
On September 9, 2019, the company announced that it will conduct a tender offer allowing shareholders to offer up to 100% of their shares for repurchase for cash at a price per share equal to 100% of the net asset value per share determined on the date the tender offer expires.
Nuveen Mortgage and Income Fund (the Fund) is a closed-end management investment company. The Fundâs investment objective is to generate high current income through opportunistic investments in securitized credit. The Fund invests at least 65% of its Managed Assets in mortgage-backed securities (MBS), including residential MBS (RMBS) and commercial mortgage-backed securities (CMBS). The Fund may invest up to 35% of its Managed Assets in non-mortgage related asset-backed securities (ABS), including collateralized loan obligations (CLOs), as well as pools of consumer auto loans, credit cards receivables, aircraft leases and maintenance agreements, timeshare agreements, and solar photovoltaics. The Fund invests in various sectors, such as oil, gas and consumable fuels, specialty retail, insurance, auto components, beverages, wireless telecommunication services, metals and mining, electric utilities, and others. The Fund's investment advisor is Nuveen Fund Advisors, LLC.
NUVEEN MORTGAGE AND INCOME FUND 
