Statistics of Price Movements of Nuveen Quality Preferred 2 (JPS)

The price movements of Nuveen Quality Preferred 2 (ticker JPS) are summarized in five ways:

• Table 1. Statistics of daily price changes using the closing prices
• Table 2. Statistics of daily price changes using the closing and opening prices
• Table 3 – 7. Statistics of daily price changes when JPS opened with an increase of 1%, 2%, 3%, 4%, or more than 5%
• Table 8 – 10. Statistics of stock price changes in the 20 days after JPS had a big price move
• Table 11. Statistics of daily price changes in the 20 days after JPS moved 5% with twice the 30-day average volume

The statistics are calculated using JPS's price data across 1,549 trading days from 2015 to 2020.

Table 1. Statistics of JPS one-day price changes

In this table, the one-day price change is calculated using the closing price and the previous day's closing price.

In the past 1,549 trading days, 48.9% of the time (757 days), JPS closed above the previous day's closing price. 41.0% of the time (634 days), it closed below the previous day's closing price. 10.1% of the time (157 days), it did not change.

Also see: VIX price movement study.

JPS Price Change (%)	Number of Days	% of Total Sessions
27 – 28%	1	0.06%
15 – 16%	1	0.06%
10 – 11%	1	0.06%
7 – 8%	1	0.06%
6 – 7%	1	0.06%
5 – 6%	1	0.06%
4 – 5%	4	0.26%
3 – 4%	4	0.26%
2 – 3%	17	1.10%
1 – 2%	93	6.01%
0 – 1%	633	40.89%
0%	157	10.14%
0 – -1%	514	33.20%
-1 – -2%	88	5.68%
-2 – -3%	15	0.97%
-3 – -4%	5	0.32%
-4 – -5%	4	0.26%
-5 – -6%	2	0.13%
-6 – -7%	1	0.06%
-7 – -8%	1	0.06%
-11 – -12%	1	0.06%
-14 – -15%	1	0.06%
-15 – -16%	1	0.06%
-29 – -30%	1	0.06%

Table 2. Statistics of JPS: Closing vs. Open

In this table, instead of using the closing price of the previous day, the opening price is used to calculate the one-day price change of JPS.

48.7% of the time (755 days), JPS closed above the opening price. 40.5% of the time (628 days), it closed below the opening price. 10.7% of the time (166 days), it closed where it started.

Closing - Open (%)	Number of Days	% of Total Sessions
27 – 28%	1	0.06%
7 – 8%	1	0.06%
6 – 7%	1	0.06%
5 – 6%	2	0.13%
4 – 5%	1	0.06%
3 – 4%	8	0.52%
2 – 3%	11	0.71%
1 – 2%	75	4.84%
0 – 1%	655	42.29%
0%	166	10.72%
0 – -1%	536	34.60%
-1 – -2%	69	4.45%
-2 – -3%	10	0.65%
-3 – -4%	5	0.32%
-4 – -5%	3	0.19%
-5 – -6%	2	0.13%
-6 – -7%	1	0.06%
-8 – -9%	1	0.06%
-23 – -24%	1	0.06%

Table 3. One-day performance when JPS opened 5% higher than previous close

In the past 1,549 trading days, JPS opened more than 5% higher than the previous day's closing price 1 times. Of these days, 100.0% (1 days) had closing prices above the opening price, and 0.0% (0 days) had closing prices below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
7 – 8%	1	100.00%

Table 4. Closing vs. open when JPS opened 4–5% higher

On 2 days, JPS opened 4–5% higher than the previous day's closing price. Of these days, 50.0% (1 days) had closing prices above the opening price, and 50.0% (1 days) had closing prices below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
2 – 3%	1	50.00%
-1 – -2%	1	50.00%

Table 5. Closing vs. open when JPS open 3 – 4% higher

3 times JPS opened 3 – 4% higher than the previous day's closing price. Among these days, 66.7% (2 days) closed above the opening price, 33.3% (1 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
6 – 7%	1	33.33%
1 – 2%	1	33.33%
-1 – -2%	1	33.33%

Table 6. Closing vs. open when JPS open 2 – 3% higher

3 times JPS opened 2 – 3% higher than the previous day's closing price. Among these days, 33.3% (1 days) closed above the opening price, 66.7% (2 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
3 – 4%	1	33.33%
0 – -1%	1	33.33%
-5 – -6%	1	33.33%

Table 7. Closing vs. open when JPS open 1 – 2% higher

13 times JPS opened 1 – 2% higher than the previous day's closing price. Among these days, 69.2% (9 days) closed above the opening price, 30.8% (4 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
3 – 4%	1	7.69%
2 – 3%	1	7.69%
1 – 2%	1	7.69%
0 – 1%	6	46.15%
0 – -1%	1	7.69%
-1 – -2%	2	15.38%
-2 – -3%	1	7.69%

Table 8. Periods when JPS moved 15% or more

In this table, we track the price movements in the 20 days after JPS had a one-day price change of at least 15%.

Date	Price Change	Price Change after 15% Move
Days after:		1	4	7	10	13	16	19
20200319	27%	-2.9	6.4	17.4	8.2	15.4	28.0	26.1
20200324	15.2%	7.3	18.4	9.0	16.3	29.0	27.1	26.6
20200312	-15.3%	10.6	-33.0	-26.7	-7.4	-1.1	-9.9	4.4
20200318	-29%	27.0	26.0	43.5	36.2	42.3	62.6	61.2

Table 8a. JPS average price changes following a 15% up day

Of the 1,549 trading days from 2015 to 2020, there were 2 days in which JPS was up more than 15%. This table shows the average price changes over the 2 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 15%	2.2	12.4	13.2	12.2	22.2	27.5	26.3

Table 8b. JPS average price changes following a 15% down day

Of the 1,549 trading days from 2015 to 2020, there were 2 days in which JPS was down more than -15%. This table shows the average price changes over the 2 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -15%	18.8	-3.5	8.4	14.4	20.6	26.3	32.8

Table 9. Periods when JPS moved 10% or more

In this table, we track the price movements in the 20 days after JPS had a one-day price change of at least 10%.

Date	Price Change	Price Change after 10% Move
Days after:		1	4	7	10	13	16	19
20200319	27%	-2.9	6.4	17.4	8.2	15.4	28.0	26.1
20200324	15.2%	7.3	18.4	9.0	16.3	29.0	27.1	26.6
20200313	10.6%	-14.2	-23.0	-23.6	-13.1	-17.5	-13.8	-1.5
20200323	-11.3%	15.2	31.2	24.5	30.1	48.7	47.4	46.5
20200316	-14.1%	-.6	-12.9	-4.6	5.3	-3.0	3.4	14.8
20200312	-15.3%	10.6	-33.0	-26.7	-7.4	-1.1	-9.9	4.4
20200318	-29%	27.0	26.0	43.5	36.2	42.3	62.6	61.2

Table 9a. JPS average price changes following a 10% up day

Of the 1,549 trading days from 2015 to 2020, there were 3 days in which JPS was up more than 10%. This table shows the average price changes over the 3 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 10%	-3.3	.6	.9	3.8	9.0	13.8	17.1

Table 9b. JPS average price changes following a 10% down day

Of the 1,549 trading days from 2015 to 2020, there were 4 days in which JPS was down more than -10%. This table shows the average price changes over the 4 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -10%	13.1	2.8	9.2	16.1	21.7	25.9	31.7

Table 10. Periods when JPS moved 5% or more

In this table, we track the price movements in the 20 days after JPS had a one-day price change of at least 5%.

Date	Price Change	Price Change after 5% Move
Days after:		1	4	7	10	13	16	19
20200319	27%	-2.9	6.4	17.4	8.2	15.4	28.0	26.1
20200324	15.2%	7.3	18.4	9.0	16.3	29.0	27.1	26.6
20200313	10.6%	-14.2	-23.0	-23.6	-13.1	-17.5	-13.8	-1.5
20200325	7.2%	2.3	9.2	-.6	15.2	16.8	16.7	15.8
20200408	6.2%	4.4	3.5	2.9	1.8	4.7	7.4	5.9
20200406	5.9%	3.0	14.3	12.6	12.1	11.1	13.3	15.4
20200311	-5.3%	-15.3	-20.1	-30.0	-23.3	-15.3	-22.0	-16.8
20200309	-5.8%	2.5	-9.2	-45.0	-39.8	-23.9	-18.8	-26.1
20200611	-6.4%	2.2	3.9	5.0	1.0	2.3	3.3	2.9
20200401	-7.7%	.9	7.6	19.4	17.6	17.2	16.1	18.4
20200323	-11.3%	15.2	31.2	24.5	30.1	48.7	47.4	46.5
20200316	-14.1%	-.6	-12.9	-4.6	5.3	-3.0	3.4	14.8
20200312	-15.3%	10.6	-33.0	-26.7	-7.4	-1.1	-9.9	4.4
20200318	-29%	27.0	26.0	43.5	36.2	42.3	62.6	61.2

Table 10a. JPS average price changes following a 5% up day

Of the 1,549 trading days from 2015 to 2020, there were 6 days in which JPS was up more than 5%. This table shows the average price changes over the 6 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 5%	-.0	4.8	2.9	6.8	9.9	13.1	14.7

Table 10b. JPS average price changes following a 5% down day

Of the 1,549 trading days from 2015 to 2020, there were 8 days in which JPS was down more than -5%. This table shows the average price changes over the 8 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -5%	5.3	-.8	-1.7	2.5	8.4	10.3	13.1

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Also see: VIX price movement study.