Judging by the results, the demand for closed-end bond funds is still spiking. Today Nuveen Investments said it had sold $2.2 billion of shares for its new Preferred and Convertible Income Fund 2. The fund is a follow-on to a similar offering that raised $1.5 billion three months ago.

The amount raised may rise to $3 billion after preferred shares are issued in the coming weeks, according to Nuveen.

"We believe investors are looking for quality-oriented fixed income investments to add income and balance to their portfolios," said Bill Adams, executive vice president of Nuveen Investments.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE