Sit Investment Associates Acquires Additional Shares in Nuveen Variable Rate Preferred & Income

Sit Investment Associates Inc. has acquired 622,394 shares of Nuveen Variable Rate Preferred & Income (NPFD) at a trade price of $19.05 per share, increasing its total holdings to 2,545,155 shares. This strategic move represents a 0.27% increase in the firm's position within its portfolio, aligning with its investment strategy that focuses on quantitative and fundamental methodologies.

Sit Investment Associates, a prominent investment firm known for its expertise in quantitative and fundamental methodologies, has recently increased its position in the Nuveen Variable Rate Preferred & Income Fund (NPFD) [1]. This strategic move represents a 0.27% expansion in Sit's portfolio, reflecting the firm's confidence in the fund's potential benefits.

NPFD, managed by Nuveen, a leading global investment manager, is a closed-end fund primarily invested in investment-grade, variable rate preferred securities and other income-producing securities from high-quality companies [1]. The fund is designed to provide a high level of current income and total return, making it an attractive option for investors seeking tax-advantaged monthly income and reduced interest rate risk [1].

Sit's investment in NPFD aligns with its investment strategy, which focuses on quantitative and fundamental analysis to identify opportunities with strong potential returns [2]. The firm's decision to increase its stake in NPFD reflects its belief in the fund's ability to deliver on its investment objectives, particularly in the context of a rising interest rate environment.

NPFD's focus on lower duration, variable rate securities may help to reduce price sensitivity to interest rate changes and improve performance in a rising-rate environment [1]. Additionally, the fund provides access to both the retail and institutional preferred securities markets, as well as diversification across the U.S. dollar denominated global market, enhancing opportunities while minimizing currency risk [1].

Investors interested in learning more about Sit Investment Associates and its investment strategies are encouraged to visit the firm's website [2].

References:
[1] Nuveen. (n.d.). Nuveen Variable Rate Preferred & Income Fund. Retrieved March 10, 2023, from https://www.nuveen.com/en-us/closed-end-funds/npfd-nuveen-variable-rate-preferred-and-income-fund
[2] Sit Investment Associates. (n.d.). About Us. Retrieved March 10, 2023, from https://www.sitinvest.com/about-us/