Nuveen Floating Rate Income Fund (NYSE:JFR) Short Interest Update

Nuveen Floating Rate Income Fund (NYSE:JFR) saw a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 487,499 shares, an increase of 128.5% from the May 14th total of 213,386 shares. Based on an average daily trading volume, of 711,404 shares, the short-interest ratio is currently 0.7 days.

Nuveen Floating Rate Income Fund Trading Down 0.3%

NYSE JFR opened at $7.68 on Friday. The stock has a 50 day moving average price of $7.55 and a 200-day moving average price of $7.66. Nuveen Floating Rate Income Fund has a one year low of $7.16 and a one year high of $8.59.

Nuveen Floating Rate Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be paid a dividend of $0.078 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 12.2%.

Insiders Place Their Bets

In other news, Portfolio Manager Scott C. Caraher purchased 7,000 shares of the business’s stock in a transaction on Monday, March 30th. The stock was acquired at an average price of $7.24 per share, for a total transaction of $50,680.00. Following the acquisition, the portfolio manager directly owned 52,440 shares of the company’s stock, valued at $379,665.60. This represents a 15.40% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge Funds Weigh In On Nuveen Floating Rate Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Coquina Private Wealth LLC purchased a new stake in shares of Nuveen Floating Rate Income Fund during the 4th quarter valued at about $356,000. Absolute Investment Advisers LLC bought a new position in shares of Nuveen Floating Rate Income Fund in the 4th quarter valued at about $2,272,000. GraniteShares Advisors LLC grew its position in Nuveen Floating Rate Income Fund by 1.5% in the fourth quarter. GraniteShares Advisors LLC now owns 345,204 shares of the company’s stock worth $2,703,000 after acquiring an additional 4,980 shares in the last quarter. Choreo LLC grew its position in Nuveen Floating Rate Income Fund by 1.3% in the fourth quarter. Choreo LLC now owns 156,340 shares of the company’s stock worth $1,233,000 after acquiring an additional 2,033 shares in the last quarter. Finally, Bfsg LLC bought a new stake in Nuveen Floating Rate Income Fund during the fourth quarter worth approximately $36,000.

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.