Nuveen Variable Rate Preferred & Income Fund (NPFD)

Nuveen Variable Rate Preferred & Income Fund is a closed-end fund (Preferred) sponsored by Nuveen. As of the 2026-11-09 close it traded at $17.29 against a net asset value of $18.64, a discount of -7.24%. Its one-year average was -4.70% and its one-year discount z-score is -1.52.

Distribution rate: +10.90% on price, +10.11% on NAV. Net investment income covers 62% of the distribution. Return of capital was 35% of distributions in the latest fiscal year.

Activist campaigns: Saba Capital Management, L.P. owns 5.6% (Schedule 13D, latest filing 2024-01-18), seeking: Board seats.

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