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

Nuveen Floating Rate Income Fund (NYSE:JFR)’s share price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $7.84 and traded as low as $7.69. Nuveen Floating Rate Income Fund shares last traded at $7.74, with a volume of 569,838 shares traded.

Nuveen Floating Rate Income Fund Trading Up 0.5%

The firm has a 50-day moving average of $7.84 and a two-hundred day moving average of $8.02.

Nuveen Floating Rate Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 13th will be issued a $0.085 dividend. The ex-dividend date is Friday, February 13th. This represents a c) dividend on an annualized basis and a dividend yield of 13.2%.

Insider Activity

In related news, VP David J. Lamb sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 30th. The shares were sold at an average price of $7.84, for a total transaction of $31,360.00. Following the completion of the sale, the vice president directly owned 18,338 shares in the company, valued at approximately $143,769.92. This trade represents a 17.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Investors Weigh In On Nuveen Floating Rate Income Fund

A number of institutional investors have recently modified their holdings of JFR. Invesco Ltd. raised its holdings in shares of Nuveen Floating Rate Income Fund by 4.1% during the fourth quarter. Invesco Ltd. now owns 2,924,669 shares of the company’s stock worth $22,900,000 after acquiring an additional 114,637 shares in the last quarter. Rivernorth Capital Management LLC acquired a new position in Nuveen Floating Rate Income Fund in the 4th quarter worth about $21,712,000. Bank of America Corp DE raised its stake in shares of Nuveen Floating Rate Income Fund by 1.0% during the 3rd quarter. Bank of America Corp DE now owns 2,573,208 shares of the company’s stock worth $21,049,000 after purchasing an additional 26,092 shares in the last quarter. Penserra Capital Management LLC raised its stake in shares of Nuveen Floating Rate Income Fund by 9.8% during the 3rd quarter. Penserra Capital Management LLC now owns 2,290,996 shares of the company’s stock worth $18,740,000 after purchasing an additional 204,618 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its holdings in shares of Nuveen Floating Rate Income Fund by 1.2% during the 4th quarter. Guggenheim Capital LLC now owns 2,194,941 shares of the company’s stock valued at $17,186,000 after buying an additional 25,799 shares during the last quarter.

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.