Nuveen Floating Rate Income Fund (NYSE:JFR) Stock Passes Below 50-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 $7.77 and traded as low as $7.39. Nuveen Floating Rate Income Fund shares last traded at $7.4150, with a volume of 2,031,099 shares traded.

Nuveen Floating Rate Income Fund Stock Down 1.4%

The company’s fifty day moving average price is $7.76 and its 200 day moving average price is $7.92.

Nuveen Floating Rate Income Fund Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a dividend of $0.078 per share. This represents a c) dividend on an annualized basis and a yield of 12.8%. The ex-dividend date is Friday, March 13th.

Insider Activity at Nuveen Floating Rate Income Fund

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 value of $31,360.00. Following the completion of the transaction, the vice president directly owned 18,338 shares of the company’s stock, valued at approximately $143,769.92. This trade represents a 17.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in JFR. Greykasell Wealth Strategies Inc. purchased a new position in Nuveen Floating Rate Income Fund in the 4th quarter worth approximately $25,000. CoreFirst Bank & Trust bought a new position in shares of Nuveen Floating Rate Income Fund in the 2nd quarter worth approximately $32,000. Bfsg LLC purchased a new position in shares of Nuveen Floating Rate Income Fund during the fourth quarter valued at approximately $36,000. CWM LLC raised its position in shares of Nuveen Floating Rate Income Fund by 284.1% in the 4th quarter. CWM LLC now owns 4,690 shares of the company’s stock worth $37,000 after purchasing an additional 3,469 shares during the last quarter. Finally, Global Wealth Strategies & Associates bought a new position in shares of Nuveen Floating Rate Income Fund in the third quarter worth approximately $40,000.

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.