Nuveen Floating Rate Income Fund (NYSE:JFR) Shares Cross Below 50-Day Moving Average – Time to Sell?

Nuveen Floating Rate Income Fund (NYSE:JFR)’s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $7.84 and traded as low as $7.69. Nuveen Floating Rate Income Fund shares last traded at $7.74, with a volume of 569,838 shares.

Nuveen Floating Rate Income Fund Trading Up 0.1%

The business’s fifty day moving average price is $7.84 and its two-hundred day moving average price is $8.01.

Nuveen Floating Rate Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be paid a dividend of $0.085 per share. This represents a c) annualized dividend and a yield of 13.2%. The ex-dividend date is Friday, February 13th.

Insider Buying and Selling at Nuveen Floating Rate Income Fund

In other news, VP David J. Lamb sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, December 30th. The stock was 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 in the company, valued at $143,769.92. This trade represents a 17.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Institutional Trading of Nuveen Floating Rate Income Fund

A number of hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised 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 valued at $9,870,000 after acquiring an additional 115,098 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Nuveen Floating Rate Income Fund by 4.6% during the first quarter. Integrated Wealth Concepts LLC now owns 33,135 shares of the company’s stock worth $281,000 after buying an additional 1,446 shares in the last quarter. Jane Street Group LLC grew its position in Nuveen Floating Rate Income Fund by 53.1% during the first 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. Stratos Wealth Partners LTD. acquired a new stake in Nuveen Floating Rate Income Fund during the second quarter valued at $212,000. Finally, Envestnet Asset Management Inc. increased its holdings in Nuveen Floating Rate Income Fund by 4.2% in the second quarter. Envestnet Asset Management Inc. now owns 717,177 shares of the company’s stock valued at $6,074,000 after buying an additional 29,062 shares in the last quarter.

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.