Nuveen Floating Rate Income Fund (NYSE:JFR) Stock Short Interest Drops 83.1%

Nuveen Floating Rate Income Fund (NYSE:JFR) saw a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 88,566 shares, a decrease of 83.1% from the September 15th total of 523,354 shares. Based on an average daily trading volume, of 991,343 shares, the short-interest ratio is presently 0.1 days.

Nuveen Floating Rate Income Fund Trading Down 0.7%

Shares of JFR traded down $0.06 during midday trading on Monday, hitting $7.37. The stock had a trading volume of 632,135 shares, compared to its average volume of 759,980. Nuveen Floating Rate Income Fund has a 1 year low of $7.16 and a 1 year high of $8.10. The stock’s 50 day moving average is $7.55 and its 200 day moving average is $7.57.

Nuveen Floating Rate Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be issued a dividend of $0.0780 per share. This represents a $0.94 annualized dividend and a yield of 12.7%. The ex-dividend date is Thursday, October 15th.

Insiders Place Their Bets

In other Nuveen Floating Rate Income Fund news, insider Terence J. Toth sold 4,464 shares of Nuveen Floating Rate Income Fund stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $7.65, for a total transaction of $34,149.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Trading of Nuveen Floating Rate Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new stake in Nuveen Floating Rate Income Fund in the second quarter worth about $15,564,000. 1607 Capital Partners LLC bought a new position in shares of Nuveen Floating Rate Income Fund during the fourth quarter valued at approximately $3,842,000. Almitas Capital LLC bought a new position in shares of Nuveen Floating Rate Income Fund during the second quarter valued at approximately $3,338,000. Coastal Bridge Advisors LLC purchased a new stake in shares of Nuveen Floating Rate Income Fund in the second quarter worth approximately $3,177,000. Finally, Saba Capital Management L.P. purchased a new stake in shares of Nuveen Floating Rate Income Fund in the first quarter worth approximately $2,256,000.

About Nuveen Floating Rate Income Fund

Nuveen Floating Rate Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol JFR. The fund seeks to provide a high level of current income by investing primarily in floating-rate senior loans and other floating-rate debt securities.

Its portfolio generally focuses on loans issued by below-investment-grade companies. These instruments are typically senior secured obligations, meaning they may have priority over other forms of corporate debt and may be backed by collateral.