Nuveen Floating Rate Income Fund (NYSE:JFR) Stock Price Passes Above 50-Day Moving Average – What’s Next?

Nuveen Floating Rate Income Fund (NYSE:JFR)’s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $8.16 and traded as high as $8.20. Nuveen Floating Rate Income Fund shares last traded at $8.19, with a volume of 553,767 shares.

Nuveen Floating Rate Income Fund Price Performance

The firm has a 50 day moving average of $8.16 and a 200-day moving average of $8.57.

Nuveen Floating Rate Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be paid a $0.085 dividend. This represents a $1.02 annualized dividend and a yield of 12.46%. The ex-dividend date of this dividend is Thursday, May 15th.

Insider Buying and Selling

In other news, Portfolio Manager Scott C. Caraher bought 5,000 shares of the stock in a transaction on Wednesday, April 9th. The shares were purchased at an average price of $7.95 per share, for a total transaction of $39,750.00. Following the completion of the purchase, the portfolio manager now directly owns 45,440 shares of the company’s stock, valued at $361,248. This trade represents a 12.36% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. grew its stake in Nuveen Floating Rate Income Fund by 4.3% in the fourth quarter. Advisors Asset Management Inc. now owns 1,059,671 shares of the company’s stock valued at $9,452,000 after purchasing an additional 43,259 shares in the last quarter. Truist Financial Corp purchased a new position in Nuveen Floating Rate Income Fund in the fourth quarter valued at about $104,000. Aviance Capital Partners LLC lifted its position in shares of Nuveen Floating Rate Income Fund by 4.6% in the fourth quarter. Aviance Capital Partners LLC now owns 177,201 shares of the company’s stock worth $1,581,000 after buying an additional 7,785 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Nuveen Floating Rate Income Fund by 3.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 72,815 shares of the company’s stock worth $650,000 after buying an additional 2,572 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its position in shares of Nuveen Floating Rate Income Fund by 7.6% in the fourth quarter. D.A. Davidson & CO. now owns 30,063 shares of the company’s stock worth $268,000 after buying an additional 2,131 shares during the last quarter.

About Nuveen Floating Rate Income Fund

Nuveen Floating Rate Income Fund is a close ended fixed income mutual fund launched by Nuveen Investments, Inc It is co-managed by Nuveen Fund Advisors LLC and Symphony Asset Management LLC. The fund invests in fixed income markets of the United States. It primarily invests in adjustable rate secured and unsecured senior loans.