Nuveen Floating Rate Income Fund (NYSE:JFR) Short Interest Down 61.1% in April

Nuveen Floating Rate Income Fund (NYSE:JFR) was the recipient of a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 138,133 shares, a drop of 61.1% from the April 15th total of 355,544 shares. Based on an average trading volume of 639,344 shares, the short-interest ratio is presently 0.2 days.

Nuveen Floating Rate Income Fund Stock Down 1.6%

Shares of NYSE:JFR traded down $0.13 during trading on Friday, reaching $7.48. The company’s stock had a trading volume of 389,957 shares, compared to its average volume of 863,619. Nuveen Floating Rate Income Fund has a 12 month low of $7.16 and a 12 month high of $8.59. The firm’s 50 day simple moving average is $7.45 and its two-hundred day simple moving average is $7.70.

Nuveen Floating Rate Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be issued a $0.078 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a c) dividend on an annualized basis and a dividend yield of 12.5%.

Insider Activity at Nuveen Floating Rate Income Fund

In other Nuveen Floating Rate Income Fund news, Portfolio Manager Scott C. Caraher purchased 7,000 shares of the stock in a transaction that occurred on Monday, March 30th. The stock was purchased at an average price of $7.24 per share, with a total value of $50,680.00. Following the acquisition, the portfolio manager owned 52,440 shares in the company, valued at approximately $379,665.60. The trade was a 15.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Greykasell Wealth Strategies Inc. bought a new position in shares of Nuveen Floating Rate Income Fund in the 4th quarter valued at about $25,000. Bfsg LLC bought a new stake in Nuveen Floating Rate Income Fund in the fourth quarter worth about $36,000. CWM LLC lifted its stake in Nuveen Floating Rate Income Fund by 284.1% in the fourth quarter. CWM LLC now owns 4,690 shares of the company’s stock worth $37,000 after purchasing an additional 3,469 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in Nuveen Floating Rate Income Fund in the first quarter worth about $41,000. Finally, BNP Paribas Financial Markets bought a new stake in Nuveen Floating Rate Income Fund in the third quarter worth about $51,000.

About Nuveen Floating Rate Income Fund

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.