A High-Yielding Fund for a Low-rate Environment JTP offers investors a combination of growth and income

Nuveen Quality Preferred Income Fund (NYSE:JTP) — This closed-end managed investment fund invests 80% of its assets in preferred stocks from insurance companies, banks, and media firms, and 20% is invested in assets of debt securities including convertible bonds and preferred stocks.

With the Fed still emphasizing a low-rate environment, JTP offers quite a contrast with a dividend yield of 7.44% (5 cents per share per month). We’ve discussed the advantages of preferred stocks previously in the form of exchange-traded funds (ETFs). But JTP is a managed fund, and because it also invests in convertible securities, offers an opportunity for growth.

In a period of uncertainty, JTP is a fund that should be bought now by investors seeking a combination of growth and income.