Nuveen Floating Rate Income Fund (NYSE:JFR) Short Interest Update

Nuveen Floating Rate Income Fund (NYSE:JFR) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 1,031,796 shares, an increase of 111.7% from the May 31st total of 487,499 shares. Based on an average daily volume of 763,186 shares, the short-interest ratio is presently 1.4 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of JFR. Greykasell Wealth Strategies Inc. purchased a new position in Nuveen Floating Rate Income Fund in the 4th quarter worth $25,000. Bfsg LLC purchased a new stake in Nuveen Floating Rate Income Fund during the 4th quarter valued at about $36,000. CWM LLC grew its stake in Nuveen Floating Rate Income Fund by 284.1% during the 4th quarter. CWM LLC now owns 4,690 shares of the company’s stock valued at $37,000 after purchasing an additional 3,469 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in shares of Nuveen Floating Rate Income Fund in the first quarter valued at about $41,000. Finally, Asset Dedication LLC acquired a new position in shares of Nuveen Floating Rate Income Fund in the first quarter valued at about $42,000.

Nuveen Floating Rate Income Fund Stock Performance

Shares of JFR stock opened at $7.70 on Thursday. The stock’s fifty day moving average price is $7.58 and its 200 day moving average price is $7.64. Nuveen Floating Rate Income Fund has a 1-year low of $7.16 and a 1-year high of $8.59.

Nuveen Floating Rate Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be paid a $0.078 dividend. The ex-dividend date is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 12.2%.

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.