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

Nuveen Floating Rate Income Fund (NYSE:JFR) saw a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 424,700 shares, a drop of 94.4% from the February 13th total of 7,550,000 shares. Based on an average daily volume of 1,121,000 shares, the short-interest ratio is presently 0.4 days.

Nuveen Floating Rate Income Fund Stock Performance

JFR traded up $0.01 on Thursday, reaching $8.51. 109,288 shares of the company’s stock were exchanged, compared to its average volume of 1,298,986. Nuveen Floating Rate Income Fund has a twelve month low of $8.28 and a twelve month high of $9.24. The stock’s fifty day moving average price is $8.61 and its 200-day moving average price is $8.81.

Nuveen Floating Rate Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.085 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 11.99%. The ex-dividend date of this dividend is Friday, March 14th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameriflex Group Inc. acquired a new stake in shares of Nuveen Floating Rate Income Fund in the 4th quarter worth approximately $29,000. Park Square Financial Group LLC acquired a new position in shares of Nuveen Floating Rate Income Fund during the fourth quarter worth approximately $40,000. CoreFirst Bank & Trust bought a new stake in Nuveen Floating Rate Income Fund during the fourth quarter worth approximately $55,000. Cary Street Partners Financial LLC acquired a new position in shares of Nuveen Floating Rate Income Fund in the 4th quarter worth approximately $93,000. Finally, Avior Wealth Management LLC raised its stake in Nuveen Floating Rate Income Fund by 122.9% during the 3rd quarter. Avior Wealth Management LLC now owns 10,750 shares of the company’s stock valued at $95,000 after purchasing an additional 5,927 shares during the period.

Nuveen Floating Rate Income Fund Company Profile

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.