Nuveen Floating Rate Income Fund Announces Monthly Dividend of $0.08 (NYSE:JFR)

Nuveen Floating Rate Income Fund (NYSE:JFR) announced a monthly dividend on Wednesday, July 1st. Stockholders of record on Wednesday, July 15th will be paid a dividend of 0.078 per share on Monday, August 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date is Wednesday, July 15th.

Nuveen Floating Rate Income Fund Trading Up 0.3%

Shares of JFR opened at $7.70 on Thursday. Nuveen Floating Rate Income Fund has a fifty-two week low of $7.16 and a fifty-two week high of $8.59. The firm has a 50-day simple moving average of $7.58 and a 200-day simple moving average of $7.64.

Institutional Trading of Nuveen Floating Rate Income Fund

A number of hedge funds have recently added to or reduced their stakes in the stock. Rivernorth Capital Management LLC purchased a new stake in shares of Nuveen Floating Rate Income Fund during the fourth quarter worth approximately $21,712,000. Wells Fargo & Company MN grew its position in Nuveen Floating Rate Income Fund by 158.2% in the 4th quarter. Wells Fargo & Company MN now owns 1,616,253 shares of the company’s stock valued at $12,655,000 after buying an additional 990,177 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in Nuveen Floating Rate Income Fund by 513.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,003,705 shares of the company’s stock valued at $7,859,000 after buying an additional 840,129 shares during the period. 1607 Capital Partners LLC purchased a new position in Nuveen Floating Rate Income Fund during the 4th quarter worth $3,842,000. Finally, Jane Street Group LLC raised its position in Nuveen Floating Rate Income Fund by 237.4% during the 4th quarter. Jane Street Group LLC now owns 546,411 shares of the company’s stock worth $4,278,000 after buying an additional 384,452 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.