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

Nuveen Floating Rate Income Fund (NYSE:JFR) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $7.85 and traded as low as $7.83. Nuveen Floating Rate Income Fund shares last traded at $7.8650, with a volume of 701,807 shares trading hands.

Nuveen Floating Rate Income Fund Trading Up 0.6%

The firm’s 50 day simple moving average is $7.85 and its 200-day simple moving average is $8.05.

Nuveen Floating Rate Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be issued a $0.085 dividend. The ex-dividend date is Friday, February 13th. This represents a c) dividend on an annualized basis and a yield of 13.0%.

Insider Buying and Selling at Nuveen Floating Rate Income Fund

In other news, VP David J. Lamb sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of $7.84, for a total value of $31,360.00. Following the completion of the sale, the vice president directly owned 18,338 shares in the company, valued at $143,769.92. This represents a 17.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Trading of Nuveen Floating Rate Income Fund

Several large investors have recently added to or reduced their stakes in JFR. Royal Bank of Canada lifted its holdings in Nuveen Floating Rate Income Fund by 11.0% in the first quarter. Royal Bank of Canada now owns 1,165,402 shares of the company’s stock valued at $9,870,000 after acquiring an additional 115,098 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in Nuveen Floating Rate Income Fund by 4.6% in the first quarter. Integrated Wealth Concepts LLC now owns 33,135 shares of the company’s stock valued at $281,000 after purchasing an additional 1,446 shares during the period. Jane Street Group LLC lifted its stake in shares of Nuveen Floating Rate Income Fund by 53.1% in the 1st quarter. Jane Street Group LLC now owns 42,062 shares of the company’s stock valued at $356,000 after purchasing an additional 14,582 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of Nuveen Floating Rate Income Fund by 8.4% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 56,021 shares of the company’s stock worth $474,000 after purchasing an additional 4,354 shares during the period. Finally, Harbour Investments Inc. increased its position in shares of Nuveen Floating Rate Income Fund by 9.9% during the 2nd quarter. Harbour Investments Inc. now owns 100,898 shares of the company’s stock worth $855,000 after purchasing an additional 9,114 shares during the last quarter.

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.