Fund Description: Nuveen Preferred Income Opportunities Fund, formerly the Nuveen Multi-Strategy Income and Growth Fund, is an exchange-traded closed-end fund or a closed-end ETF that is officially described as a non-diversified, closed-end management investment company. <p> INVESTMENT OBJECTIVE: The Nuveen Preferred Income Opportunities Fund seeks high current income; and its secondary objective is total return. <p> FUND STRATEGY: The Fund invests at least 80% of its managed assets in preferred securities, and up to 20% opportunistically over the market cycle in other types of securities, primarily income-oriented securities such as corporate and taxable municipal debt and common equity. The Fund uses leverage. <p> FUND MANAGEMENT: NWQ Investment Management and Nuveen Asset Management serves as the Investment Managers to the Fund.