Nuveen Floating Rate Income Fund (NYSE:JFR) Sees Significant Decrease in Short Interest

by · The Cerbat Gem

Nuveen Floating Rate Income Fund (NYSE:JFR – Get Free Report) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 50,400 shares, a drop of 70.7% from the September 15th total of 172,100 shares. Based on an average daily trading volume, of 548,800 shares, the short-interest ratio is presently 0.1 days.

Insider Buying and Selling at Nuveen Floating Rate Income Fund

In related news, insider Albin F. Moschner sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $8.77, for a total value of $175,400.00. Following the transaction, the insider now owns 13,400 shares in the company, valued at $117,518. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On Nuveen Floating Rate Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. increased its stake in Nuveen Floating Rate Income Fund by 36.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,500 shares of the company’s stock valued at $39,000 after purchasing an additional 1,200 shares in the last quarter. True North Advisors LLC bought a new stake in shares of Nuveen Floating Rate Income Fund in the 1st quarter valued at $91,000. Csenge Advisory Group acquired a new stake in Nuveen Floating Rate Income Fund during the 1st quarter worth $95,000. GM Advisory Group LLC bought a new position in Nuveen Floating Rate Income Fund during the first quarter worth about $104,000. Finally, Integrated Advisors Network LLC bought a new stake in shares of Nuveen Floating Rate Income Fund in the fourth quarter worth about $100,000.

Nuveen Floating Rate Income Fund Price Performance

JFR stock traded up $0.02 during midday trading on Thursday, reaching $8.98. The company’s stock had a trading volume of 397,891 shares, compared to its average volume of 557,329. The business’s 50-day simple moving average is $8.80 and its 200-day simple moving average is $8.75. Nuveen Floating Rate Income Fund has a 52 week low of $7.61 and a 52 week high of $9.03.

Nuveen Floating Rate Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be given a $0.085 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $1.02 annualized dividend and a dividend yield of 11.36%.

Nuveen Floating Rate Income Fund Company Profile

(Get Free Report)

Nuveen Floating Rate Income Fund is a close ended fixed income mutual fund launched by Nuveen Investments, Inc It is co-managed by Nuveen Fund Advisors LLC and Symphony Asset Management LLC. The fund invests in fixed income markets of the United States. It primarily invests in adjustable rate secured and unsecured senior loans.

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