Time to Exit Nuveen Variable Rate Preferred & Income Fund?

Nuveen Variable Rate Preferred & Income Fund (NPFD) is a closed-end fund investing primarily in preferred securities. Its objective is to provide high current income and total return. The fund's diversified portfolio allows for a mix of fixed and floating-rate securities, offering flexibility during market fluctuations. As of March 2023, NPFD has a market capitalization of approximately $3.4 billion, with an expense ratio of 0.52%.