Nuveen Floating Rate Income Fund (NYSE:JFR) Stock Price Passes Below 50-Day Moving Average – Time to Sell?

Nuveen Floating Rate Income Fund (NYSE:JFR)’s share price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $8.08 and traded as low as $7.95. Nuveen Floating Rate Income Fund shares last traded at $7.97, with a volume of 362,842 shares trading hands.

Nuveen Floating Rate Income Fund Stock Down 0.3%

The company has a 50 day moving average of $8.08 and a two-hundred day moving average of $8.26.

Nuveen Floating Rate Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a $0.085 dividend. This represents a c) annualized dividend and a yield of 12.8%. The ex-dividend date of this dividend is Friday, November 14th.

Institutional Investors Weigh In On Nuveen Floating Rate Income Fund

Several large investors have recently bought and sold shares of JFR. Diversify Wealth Management LLC boosted its stake in shares of Nuveen Floating Rate Income Fund by 7.4% in the third quarter. Diversify Wealth Management LLC now owns 29,201 shares of the company’s stock worth $231,000 after acquiring an additional 2,000 shares during the last quarter. First Heartland Consultants Inc. purchased a new position in Nuveen Floating Rate Income Fund in the 3rd quarter valued at $92,000. Readystate Asset Management LP boosted its stake in Nuveen Floating Rate Income Fund by 205.4% during the 3rd quarter. Readystate Asset Management LP now owns 143,473 shares of the company’s stock worth $1,174,000 after purchasing an additional 96,498 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Nuveen Floating Rate Income Fund by 21.5% during the third quarter. Advisors Asset Management Inc. now owns 1,371,038 shares of the company’s stock worth $11,215,000 after buying an additional 242,346 shares in the last quarter. Finally, J.W. Cole Advisors Inc. lifted its stake in shares of Nuveen Floating Rate Income Fund by 3.0% in the third quarter. J.W. Cole Advisors Inc. now owns 370,336 shares of the company’s stock worth $3,029,000 after buying an additional 10,937 shares in 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.