Nuveen Core Plus Impact Fund (NPCT) Stock

NPCT is a high-yielding fixed income CEF launched in 2021, designed for a low interest rate environment with aggressive distribution targets. The fund's performance since inception has been poor, with an early 40% loss to investors, but has seen recent gains and a distribution increase. NPCT faces risks from duration, credit spreads, and discount to NAV widening, making its longer-term prospects uncertain despite recent positive sentiment.

Nuveen Core Plus Impact Fund is a closed-end fund that focuses primarily on fixed-income investments across various sectors. The fund increased its monthly distribution in early 2024 to approximately 11%, although this is lower than the original payout. Saba Capital Management, an activist firm, is aiming to influence NPCT and secure a seat on the Board.

Nuveen Core Plus Impact Fund is a multi-asset fixed-income CEF. The vehicle is characterized by a very high leverage ratio of 39% and an extremely expensive cost of funds close to 6%. NPCT's main risk factors are interest rates and credit spreads, coupled with its floating rate liability structure.