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

Nuveen Floating Rate Income Fund (NYSE:JFR)’s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $7.68 and traded as high as $7.84. Nuveen Floating Rate Income Fund shares last traded at $7.8150, with a volume of 771,012 shares trading hands.

Nuveen Floating Rate Income Fund Stock Up 0.1%

The business has a 50 day moving average of $7.68 and a 200 day moving average of $7.61.

Nuveen Floating Rate Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a $0.078 dividend. The ex-dividend date is Friday, August 14th. This represents a c) annualized dividend and a yield of 12.0%.

Institutional Investors Weigh In On Nuveen Floating Rate Income Fund

Large investors have recently modified their holdings of the stock. Greykasell Wealth Strategies Inc. purchased a new position in shares of Nuveen Floating Rate Income Fund during the fourth quarter valued at about $25,000. CWM LLC lifted its holdings in Nuveen Floating Rate Income Fund by 284.1% in the fourth quarter. CWM LLC now owns 4,690 shares of the company’s stock worth $37,000 after buying an additional 3,469 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in Nuveen Floating Rate Income Fund in the first quarter worth about $41,000. Asset Dedication LLC bought a new stake in Nuveen Floating Rate Income Fund during the 1st quarter valued at approximately $42,000. Finally, Axiom Investment Management LLC bought a new stake in Nuveen Floating Rate Income Fund during the 1st quarter valued at approximately $48,000.

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.