Nuveen Floating Rate Income Fund (NYSE:JFR) Stock Price Passes Above Fifty Day Moving Average – Here’s What Happened

Shares of Nuveen Floating Rate Income Fund (NYSE:JFR) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $7.54 and traded as high as $7.71. Nuveen Floating Rate Income Fund shares last traded at $7.6650, with a volume of 805,845 shares changing hands.

Nuveen Floating Rate Income Fund Stock Up 0.5%

The stock has a fifty day moving average price of $7.54 and a two-hundred day moving average price of $7.66.

Nuveen Floating Rate Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be issued a $0.078 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date is Monday, June 15th.

Insider Buying and Selling at Nuveen Floating Rate Income Fund

In related news, Portfolio Manager Scott C. Caraher bought 7,000 shares of the company’s stock in a transaction dated Monday, March 30th. The shares were bought at an average price of $7.24 per share, for a total transaction of $50,680.00. Following the completion of the acquisition, the portfolio manager directly owned 52,440 shares of the company’s stock, valued at $379,665.60. This trade represents a 15.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. NewEdge Advisors LLC lifted its holdings in shares of Nuveen Floating Rate Income Fund by 14.9% in the first quarter. NewEdge Advisors LLC now owns 223,845 shares of the company’s stock valued at $1,683,000 after purchasing an additional 29,096 shares in the last quarter. Asset Dedication LLC bought a new stake in Nuveen Floating Rate Income Fund during the first quarter worth $42,000. Axiom Investment Management LLC bought a new stake in Nuveen Floating Rate Income Fund during the first quarter worth $48,000. Arete Wealth Advisors LLC bought a new stake in Nuveen Floating Rate Income Fund during the first quarter worth $178,000. Finally, Western Wealth Management LLC bought a new stake in Nuveen Floating Rate Income Fund during the first quarter worth $90,000.

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.