Nuveen Floating Rate Income Fund (NYSE:JFR) Sees Significant Drop in Short Interest

Nuveen Floating Rate Income Fund (NYSE:JFR) was the target of a significant decline in short interest in October. As of October 30th, there was short interest totaling 155,470 shares, a decline of 80.7% from the October 15th total of 806,337 shares. Based on an average daily volume of 858,287 shares, the short-interest ratio is currently 0.2 days.

Insider Buying and Selling

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

Institutional Trading of Nuveen Floating Rate Income Fund

Several institutional investors and hedge funds have recently modified their holdings of the business. Cassaday & Co Wealth Management LLC bought a new position in Nuveen Floating Rate Income Fund in the first quarter valued at about $41,000. Asset Dedication LLC acquired a new position in Nuveen Floating Rate Income Fund during the first quarter worth about $42,000. Axiom Investment Management LLC acquired a new position in Nuveen Floating Rate Income Fund during the first quarter worth about $48,000. Samalin Investment Counsel LLC acquired a new position in Nuveen Floating Rate Income Fund during the third quarter worth about $75,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Nuveen Floating Rate Income Fund in the second quarter worth about $79,000.

Nuveen Floating Rate Income Fund Trading Down 0.5%

Shares of JFR stock traded down $0.04 during trading hours on Friday, reaching $7.19. The company’s stock had a trading volume of 476,995 shares, compared to its average volume of 759,229. The firm’s 50 day simple moving average is $7.35 and its 200-day simple moving average is $7.54. Nuveen Floating Rate Income Fund has a fifty-two week low of $7.09 and a fifty-two week high of $8.00.

Nuveen Floating Rate Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be issued a dividend of $0.0780 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 13.0%.

About Nuveen Floating Rate Income Fund

Nuveen Floating Rate Income Fund (NYSE:JFR) is a closed-end management investment company designed to provide investors with current income. The fund primarily invests in floating-rate senior secured loans and other floating-rate debt instruments issued by corporate borrowers, many of which are below investment grade or unrated. Because the fund invests in loans whose interest rates generally adjust periodically, its portfolio is structured to seek income that may be less sensitive to changes in prevailing interest rates than fixed-rate bonds.