Short Interest in Nuveen Floating Rate Income Fund (NYSE:JFR) Grows By 128.5%

Nuveen Floating Rate Income Fund (NYSE:JFR) was the recipient of a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 487,499 shares, an increase of 128.5% from the May 14th total of 213,386 shares. Based on an average daily volume of 711,404 shares, the days-to-cover ratio is presently 0.7 days.

Insider Buying and Selling

In other news, Portfolio Manager Scott C. Caraher bought 7,000 shares of Nuveen Floating Rate Income Fund stock in a transaction that occurred on Monday, March 30th. The stock was purchased at an average cost of $7.24 per share, with a total value of $50,680.00. Following the completion of the transaction, the portfolio manager directly owned 52,440 shares in the company, valued at $379,665.60. This trade represents a 15.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Nuveen Floating Rate Income Fund in the fourth quarter valued at $25,000. Bfsg LLC acquired a new stake in shares of Nuveen Floating Rate Income Fund in the fourth quarter valued at $36,000. CWM LLC increased its stake in shares of Nuveen Floating Rate Income Fund by 284.1% in the fourth quarter. CWM LLC now owns 4,690 shares of the company’s stock valued at $37,000 after buying an additional 3,469 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Nuveen Floating Rate Income Fund in the first quarter valued at $41,000. Finally, Asset Dedication LLC acquired a new stake in shares of Nuveen Floating Rate Income Fund in the first quarter valued at $42,000.

Nuveen Floating Rate Income Fund Price Performance

Shares of NYSE JFR opened at $7.68 on Monday. The business has a fifty day moving average of $7.55 and a two-hundred day moving average of $7.66. Nuveen Floating Rate Income Fund has a 52-week low of $7.16 and a 52-week high of $8.59.

Nuveen Floating Rate Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be issued a dividend of $0.078 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 12.2%.

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.