Nuveen Floating Rate Income Fund (NYSE:JFR) Stock Price Crosses Below 50-Day Moving Average – Here’s Why

Nuveen Floating Rate Income Fund (NYSE:JFR) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $7.77 and traded as low as $7.39. Nuveen Floating Rate Income Fund shares last traded at $7.4150, with a volume of 2,031,099 shares.

Nuveen Floating Rate Income Fund Price Performance

The company’s 50-day simple moving average is $7.77 and its 200-day simple moving average is $7.93.

Nuveen Floating Rate Income Fund Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a dividend of $0.078 per share. This represents a c) dividend on an annualized basis and a yield of 12.6%. The ex-dividend date of this dividend is Friday, March 13th.

Insider Transactions at Nuveen Floating Rate Income Fund

In related news, VP David J. Lamb sold 4,000 shares of Nuveen Floating Rate Income Fund stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $7.84, for a total transaction of $31,360.00. Following the sale, the vice president owned 18,338 shares of the company’s stock, valued at $143,769.92. The trade was a 17.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Institutional Trading of Nuveen Floating Rate Income Fund

Several large investors have recently modified their holdings of JFR. Invesco Ltd. increased its position in shares of Nuveen Floating Rate Income Fund by 4.1% during the fourth quarter. Invesco Ltd. now owns 2,924,669 shares of the company’s stock worth $22,900,000 after acquiring an additional 114,637 shares during the last quarter. Rivernorth Capital Management LLC acquired a new stake in Nuveen Floating Rate Income Fund during the 4th quarter valued at approximately $21,712,000. Bank of America Corp DE increased its holdings in Nuveen Floating Rate Income Fund by 1.0% during the 3rd quarter. Bank of America Corp DE now owns 2,573,208 shares of the company’s stock worth $21,049,000 after purchasing an additional 26,092 shares during the last quarter. Penserra Capital Management LLC increased its holdings in Nuveen Floating Rate Income Fund by 9.8% during the 3rd quarter. Penserra Capital Management LLC now owns 2,290,996 shares of the company’s stock worth $18,740,000 after purchasing an additional 204,618 shares during the last quarter. Finally, Guggenheim Capital LLC raised its position in shares of Nuveen Floating Rate Income Fund by 1.2% in the 4th quarter. Guggenheim Capital LLC now owns 2,194,941 shares of the company’s stock valued at $17,186,000 after purchasing an additional 25,799 shares in the last quarter.

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.