Nuveen Floating Rate Income Fund (NYSE:JFR) Stock Price Passes Above Fifty Day Moving Average – Here’s What Happened

Nuveen Floating Rate Income Fund (NYSE:JFR) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $7.54 and traded as high as $7.71. Nuveen Floating Rate Income Fund shares last traded at $7.6650, with a volume of 805,845 shares.

Nuveen Floating Rate Income Fund Stock Performance

The firm has a 50 day moving average of $7.54 and a 200 day moving average of $7.66.

Nuveen Floating Rate Income Fund Dividend Announcement

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

Insider Buying and Selling

In other Nuveen Floating Rate Income Fund news, Portfolio Manager Scott C. Caraher bought 7,000 shares of the firm’s stock in a transaction that occurred on Monday, March 30th. The stock was acquired at an average price of $7.24 per share, with a total value of $50,680.00. Following the completion of the purchase, the portfolio manager directly owned 52,440 shares of the company’s stock, valued at approximately $379,665.60. This trade represents a 15.40% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Investors Weigh In On Nuveen Floating Rate Income Fund

Several large investors have recently added to or reduced their stakes in JFR. Coquina Private Wealth LLC acquired a new stake in Nuveen Floating Rate Income Fund in the fourth quarter valued at approximately $356,000. Shaker Financial Services LLC grew its stake in Nuveen Floating Rate Income Fund by 31.5% in the fourth quarter. Shaker Financial Services LLC now owns 113,966 shares of the company’s stock valued at $892,000 after acquiring an additional 27,285 shares during the period. Choreo LLC grew its stake in Nuveen Floating Rate Income Fund by 1.3% in the fourth quarter. Choreo LLC now owns 156,340 shares of the company’s stock valued at $1,233,000 after acquiring an additional 2,033 shares during the period. Bfsg LLC acquired a new stake in Nuveen Floating Rate Income Fund in the fourth quarter valued at approximately $36,000. Finally, Savvy Advisors Inc. acquired a new stake in Nuveen Floating Rate Income Fund in the fourth quarter valued at approximately $334,000.

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.