Nuveen Floating Rate Income Fund (NYSE:JFR) Sees Large Drop in Short Interest

Nuveen Floating Rate Income Fund (NYSE:JFR) was the target of a large decrease in short interest in April. As of April 30th, there was short interest totaling 138,133 shares, a decrease of 61.1% from the April 15th total of 355,544 shares. Based on an average trading volume of 639,344 shares, the short-interest ratio is presently 0.2 days.

Nuveen Floating Rate Income Fund Trading Down 0.1%

JFR stock traded down $0.01 during trading hours on Thursday, hitting $7.60. 566,901 shares of the stock traded hands, compared to its average volume of 867,941. The stock has a 50-day simple moving average of $7.45 and a 200 day simple moving average of $7.70. Nuveen Floating Rate Income Fund has a one year low of $7.16 and a one year high of $8.59.

Nuveen Floating Rate Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be given a dividend of $0.078 per share. This represents a c) dividend on an annualized basis and a dividend yield of 12.3%. The ex-dividend date is Friday, May 15th.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Nuveen Floating Rate Income Fund

A number of large investors have recently made changes to their positions in JFR. Integrated Wealth Concepts LLC boosted its stake in Nuveen Floating Rate Income Fund by 4.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 33,135 shares of the company’s stock worth $281,000 after purchasing an additional 1,446 shares during the period. Diversify Wealth Management LLC grew its holdings in shares of Nuveen Floating Rate Income Fund by 7.4% during the 3rd quarter. Diversify Wealth Management LLC now owns 29,201 shares of the company’s stock valued at $231,000 after acquiring an additional 2,000 shares in the last quarter. Choreo LLC increased its position in Nuveen Floating Rate Income Fund by 1.3% in the 4th quarter. Choreo LLC now owns 156,340 shares of the company’s stock worth $1,233,000 after purchasing an additional 2,033 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Nuveen Floating Rate Income Fund by 1.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 128,855 shares of the company’s stock worth $1,091,000 after purchasing an additional 2,086 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Nuveen Floating Rate Income Fund by 14.4% during the 4th quarter. Farther Finance Advisors LLC now owns 17,195 shares of the company’s stock valued at $135,000 after purchasing an additional 2,168 shares in the last quarter.

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.