Nuveen Floating Rate Income Fund (NYSE:JFR) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

Nuveen Floating Rate Income Fund (NYSE:JFR)’s stock price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $7.65 and traded as high as $7.69. Nuveen Floating Rate Income Fund shares last traded at $7.6750, with a volume of 401,156 shares changing hands.

Nuveen Floating Rate Income Fund Stock Performance

The firm’s 50 day moving average is $7.65 and its 200-day moving average is $7.62.

Nuveen Floating Rate Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be paid a dividend of $0.078 per share. This represents a c) dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date of this dividend is Wednesday, July 15th.

Institutional Investors Weigh In On Nuveen Floating Rate Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its position in Nuveen Floating Rate Income Fund by 11.0% during the first quarter. Royal Bank of Canada now owns 1,165,402 shares of the company’s stock worth $9,870,000 after buying an additional 115,098 shares during the period. Integrated Wealth Concepts LLC grew its holdings in Nuveen Floating Rate Income Fund by 4.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 33,135 shares of the company’s stock valued at $281,000 after buying an additional 1,446 shares during the period. Jane Street Group LLC grew its holdings in Nuveen Floating Rate Income Fund by 53.1% in the 1st quarter. Jane Street Group LLC now owns 42,062 shares of the company’s stock valued at $356,000 after buying an additional 14,582 shares during the period. Invesco Ltd. increased its stake in shares of Nuveen Floating Rate Income Fund by 0.8% during the 2nd quarter. Invesco Ltd. now owns 2,683,125 shares of the company’s stock valued at $22,726,000 after acquiring an additional 20,525 shares during the last quarter. Finally, First Trust Advisors LP acquired a new position in shares of Nuveen Floating Rate Income Fund during the 2nd quarter valued at about $485,000.

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.