Nuveen Floating Rate Income Fund (NYSE:JFR) Trading Up 0.4% Following Dividend Announcement

Nuveen Floating Rate Income Fund (NYSE:JFR) shares rose 0.4% during trading on Monday after the company announced a dividend. The company traded as high as $7.86 and last traded at $7.8550. Approximately 1,192,914 shares were traded during mid-day trading, a decline of 0% from the average daily volume of 1,194,257 shares. The stock had previously closed at $7.82.

The newly announced dividend which will be paid on Monday, February 2nd. Investors of record on Thursday, January 15th will be issued a dividend of $0.085 per share. This represents a c) annualized dividend and a yield of 13.0%. The ex-dividend date is Thursday, January 15th.

Nuveen Floating Rate Income Fund Price Performance

The business has a 50-day moving average of $7.86 and a 200-day moving average of $8.15.

Insider Activity

In other news, VP David J. Lamb sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, December 30th. The shares were 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 owned 18,338 shares in the company, valued at approximately $143,769.92. This trade represents a 17.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Trading of Nuveen Floating Rate Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC lifted its stake in Nuveen Floating Rate Income Fund by 2.9% in the third quarter. Advisory Services Network LLC now owns 108,585 shares of the company’s stock worth $888,000 after purchasing an additional 3,084 shares during the last quarter. Icon Advisers Inc. Co. raised its holdings in shares of Nuveen Floating Rate Income Fund by 47.5% in the third quarter. Icon Advisers Inc. Co. now owns 568,183 shares of the company’s stock worth $4,648,000 after buying an additional 182,992 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Nuveen Floating Rate Income Fund by 37.9% during the 3rd quarter. NewEdge Advisors LLC now owns 204,246 shares of the company’s stock worth $1,671,000 after acquiring an additional 56,119 shares during the last quarter. Williams Jones Wealth Management LLC. bought a new stake in shares of Nuveen Floating Rate Income Fund during the 3rd quarter worth approximately $123,000. Finally, Susquehanna International Group LLP purchased a new position in Nuveen Floating Rate Income Fund during the 3rd quarter valued at $197,000.

Nuveen Floating Rate Income Fund Company Profile

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.