Nuveen Corporate Income 2023 Target Term Fund Announces Liquidation Details; Funds Plan To Terminate Its Existence And Liquidate On Or About Dec. 1, 2023
Portfolio Pulse from Benzinga Newsdesk
Nuveen Corporate Income 2023 Target Term Fund has announced its liquidation details, planning to terminate its existence and liquidate on or about December 1, 2023. The fund's common shares will continue trading on the NYSE until November 24, 2023, and will be suspended from trading before the market opens on November 27, 2023. The fund will not declare its regular monthly distribution in November 2023 and expects all accumulated earnings to be included in the final liquidating distribution. Due to market conditions, the fund does not anticipate returning the Original NAV at its termination.
October 20, 2023 | 8:19 pm
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Nuveen Corporate Income 2023 Target Term Fund (JHAA) is set to liquidate on December 1, 2023. Trading will continue until November 24, 2023, but the fund does not anticipate returning the Original NAV at its termination.
The announcement of the fund's liquidation is a significant event that will likely lead to a decrease in the fund's stock price. The fact that the fund does not anticipate returning the Original NAV at its termination could further negatively impact the stock price.
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