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

Nuveen Floating Rate Income Fund (NYSE:JFR) saw a large decline in short interest during the month of April. As of April 30th, there was short interest totaling 138,133 shares, a decline of 61.1% from the April 15th total of 355,544 shares. Based on an average daily trading volume, of 639,344 shares, the short-interest ratio is currently 0.2 days.

Nuveen Floating Rate Income Fund Trading Down 0.1%

NYSE:JFR traded down $0.01 during mid-day trading on Thursday, reaching $7.60. 566,901 shares of the stock were exchanged, compared to its average volume of 867,941. Nuveen Floating Rate Income Fund has a 1 year low of $7.16 and a 1 year high of $8.59. The company has a 50 day simple moving average of $7.45 and a 200-day simple moving average of $7.70.

Nuveen Floating Rate Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be given a $0.078 dividend. The ex-dividend date is Friday, May 15th. This represents a c) annualized dividend and a yield of 12.3%.

Insider Buying and Selling at Nuveen Floating Rate Income Fund

In related news, Portfolio Manager Scott C. Caraher purchased 7,000 shares of the company’s stock in a transaction on Monday, March 30th. The shares were bought at an average cost of $7.24 per share, for a total transaction of $50,680.00. Following the completion of the purchase, the portfolio manager directly owned 52,440 shares of the company’s stock, valued at approximately $379,665.60. This trade represents a 15.40% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Nuveen Floating Rate Income Fund

Several hedge funds have recently bought and sold shares of the stock. Rivernorth Capital Management LLC acquired a new stake in shares of Nuveen Floating Rate Income Fund during the fourth quarter worth $21,712,000. Wells Fargo & Company MN grew its position in Nuveen Floating Rate Income Fund by 158.2% during the fourth quarter. Wells Fargo & Company MN now owns 1,616,253 shares of the company’s stock valued at $12,655,000 after acquiring an additional 990,177 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of Nuveen Floating Rate Income Fund by 513.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,003,705 shares of the company’s stock valued at $7,859,000 after purchasing an additional 840,129 shares in the last quarter. 1607 Capital Partners LLC acquired a new stake in shares of Nuveen Floating Rate Income Fund in the fourth quarter worth $3,842,000. Finally, Jane Street Group LLC raised its stake in shares of Nuveen Floating Rate Income Fund by 237.4% in the 4th quarter. Jane Street Group LLC now owns 546,411 shares of the company’s stock valued at $4,278,000 after acquiring an additional 384,452 shares during the period.

About Nuveen Floating Rate Income Fund

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.