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

Nuveen Floating Rate Income Fund (NYSE:JFR) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $7.70 and traded as low as $7.31. Nuveen Floating Rate Income Fund shares last traded at $7.4350, with a volume of 1,224,698 shares changing hands.

Nuveen Floating Rate Income Fund Stock Up 1.4%

The company’s 50 day simple moving average is $7.70 and its 200 day simple moving average is $7.88.

Nuveen Floating Rate Income Fund Cuts Dividend

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

Insider Buying and Selling

In related news, VP David J. Lamb sold 4,000 shares of the firm’s stock in a transaction on Tuesday, December 30th. The stock was 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 approximately $143,769.92. This trade represents a 17.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Investors Weigh In On Nuveen Floating Rate Income Fund

Several large investors have recently modified their holdings of JFR. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Nuveen Floating Rate Income Fund during the fourth quarter worth about $25,000. CoreFirst Bank & Trust acquired a new position in shares of Nuveen Floating Rate Income Fund in the 2nd quarter valued at approximately $32,000. Bfsg LLC acquired a new position in shares of Nuveen Floating Rate Income Fund in the 4th quarter valued at approximately $36,000. CWM LLC increased its stake in Nuveen Floating Rate Income Fund by 284.1% during the 4th quarter. CWM LLC now owns 4,690 shares of the company’s stock worth $37,000 after purchasing an additional 3,469 shares in the last quarter. Finally, Global Wealth Strategies & Associates bought a new stake in Nuveen Floating Rate Income Fund during the 3rd quarter worth approximately $40,000.

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.