Nuveen Floating Rate Income Fund (NYSE:JFR) Stock Passes Below Fifty Day Moving Average – What’s Next?

Shares of Nuveen Floating Rate Income Fund (NYSE:JFR) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $7.84 and traded as low as $7.69. Nuveen Floating Rate Income Fund shares last traded at $7.74, with a volume of 569,838 shares traded.

Nuveen Floating Rate Income Fund Stock Up 0.5%

The firm’s fifty day moving average price is $7.84 and its 200-day moving average price is $8.02.

Nuveen Floating Rate Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be paid a dividend of $0.085 per share. This represents a c) dividend on an annualized basis and a yield of 13.2%. The ex-dividend date of this dividend is Friday, February 13th.

Insider Activity

In other news, VP David J. Lamb sold 4,000 shares of the business’s stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $7.84, for a total value of $31,360.00. Following the sale, the vice president owned 18,338 shares of the company’s stock, valued at approximately $143,769.92. The trade was a 17.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of JFR. Guggenheim Capital LLC boosted its position in shares of Nuveen Floating Rate Income Fund by 4.9% in the 2nd quarter. Guggenheim Capital LLC now owns 2,089,952 shares of the company’s stock valued at $17,702,000 after purchasing an additional 96,716 shares during the period. Cetera Investment Advisers raised its holdings in Nuveen Floating Rate Income Fund by 8.4% during the 2nd quarter. Cetera Investment Advisers now owns 220,059 shares of the company’s stock worth $1,864,000 after buying an additional 17,062 shares during the period. J.W. Cole Advisors Inc. lifted its stake in Nuveen Floating Rate Income Fund by 10.6% during the second quarter. J.W. Cole Advisors Inc. now owns 359,399 shares of the company’s stock valued at $3,044,000 after buying an additional 34,536 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Nuveen Floating Rate Income Fund by 3.2% in the second quarter. Advisors Asset Management Inc. now owns 1,128,692 shares of the company’s stock worth $9,560,000 after buying an additional 35,318 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of Nuveen Floating Rate Income Fund by 77.5% in the second quarter. Allworth Financial LP now owns 4,919 shares of the company’s stock worth $42,000 after buying an additional 2,148 shares during the period.

Nuveen Floating Rate Income Fund Company Profile

Nuveen Floating Rate Income Fund (NYSE: JFR) is a diversified, closed-end management investment company that seeks to provide current income by primarily investing in floating rate senior loans and other floating rate debt instruments. The fund focuses on senior secured loans issued by U.S. and non-U.S. corporations, aiming to benefit from variable interest payments that adjust with prevailing short-term rates and to help mitigate interest-rate risk. In pursuing its objective, the fund may also allocate assets to high-yield corporate debt, bank debt and other floating-rate instruments across a range of industries.

The fund employs leverage and a disciplined credit review process to enhance income generation.