Short Interest in Nuveen Floating Rate Income Fund (NYSE:JFR) Expands By 128.5%

Nuveen Floating Rate Income Fund (NYSE:JFR) was the target of a large increase in short interest in May. As of May 29th, there was short interest totaling 487,499 shares, an increase of 128.5% from the May 14th total of 213,386 shares. Based on an average trading volume of 711,404 shares, the days-to-cover ratio is presently 0.7 days.

Insider Buying and Selling at Nuveen Floating Rate Income Fund

In related news, Portfolio Manager Scott C. Caraher acquired 7,000 shares of Nuveen Floating Rate Income Fund stock in a transaction dated Monday, March 30th. The stock was acquired at an average cost of $7.24 per share, with a total value of $50,680.00. Following the purchase, the portfolio manager directly owned 52,440 shares in the company, valued at $379,665.60. The trade was a 15.40% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On Nuveen Floating Rate Income Fund

Several large investors have recently modified their holdings of JFR. Royal Bank of Canada boosted its stake in shares of Nuveen Floating Rate Income Fund by 11.0% during the 1st quarter. Royal Bank of Canada now owns 1,165,402 shares of the company’s stock worth $9,870,000 after acquiring an additional 115,098 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Nuveen Floating Rate Income Fund by 4.6% in 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 during the period. Jane Street Group LLC boosted its position in shares of Nuveen Floating Rate Income Fund by 53.1% in the first quarter. Jane Street Group LLC now owns 42,062 shares of the company’s stock worth $356,000 after buying an additional 14,582 shares during the period. Invesco Ltd. boosted its position in shares of Nuveen Floating Rate Income Fund by 0.8% in the second quarter. Invesco Ltd. now owns 2,683,125 shares of the company’s stock worth $22,726,000 after buying an additional 20,525 shares during the period. Finally, First Trust Advisors LP acquired a new stake in shares of Nuveen Floating Rate Income Fund in the second quarter worth $485,000.

Nuveen Floating Rate Income Fund Stock Performance

Shares of JFR traded down $0.03 during trading hours on Friday, hitting $7.68. 554,770 shares of the company were exchanged, compared to its average volume of 843,009. The firm has a fifty day simple moving average of $7.55 and a 200-day simple moving average of $7.66. Nuveen Floating Rate Income Fund has a one year low of $7.16 and a one year high of $8.59.

Nuveen Floating Rate Income Fund Announces Dividend

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

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.