Short Interest in Nuveen Floating Rate Income Fund (NYSE:JFR) Rises By 50.7%

Nuveen Floating Rate Income Fund (NYSE:JFR) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 445,600 shares, a growth of 50.7% from the November 30th total of 295,700 shares. Based on an average trading volume of 508,100 shares, the short-interest ratio is currently 0.9 days.

Insider Activity

In related news, insider Albin F. Moschner sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $8.77, for a total transaction of $175,400.00. Following the completion of the transaction, the insider now owns 13,400 shares of the company’s stock, valued at $117,518. This trade represents a 59.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Institutional Investors Weigh In On Nuveen Floating Rate Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of JFR. Thrivent Financial for Lutherans raised its position in Nuveen Floating Rate Income Fund by 11.4% during the second quarter. Thrivent Financial for Lutherans now owns 146,451 shares of the company’s stock valued at $1,266,000 after buying an additional 15,018 shares during the period. Kades & Cheifetz LLC increased its position in Nuveen Floating Rate Income Fund by 3.7% in the 3rd quarter. Kades & Cheifetz LLC now owns 216,960 shares of the company’s stock worth $1,914,000 after purchasing an additional 7,664 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Nuveen Floating Rate Income Fund by 13.2% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 15,446 shares of the company’s stock worth $134,000 after purchasing an additional 1,806 shares in the last quarter. Coastal Bridge Advisors LLC raised its stake in shares of Nuveen Floating Rate Income Fund by 30.6% during the 2nd quarter. Coastal Bridge Advisors LLC now owns 442,454 shares of the company’s stock worth $3,827,000 after purchasing an additional 103,719 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Nuveen Floating Rate Income Fund by 36.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,500 shares of the company’s stock valued at $39,000 after buying an additional 1,200 shares during the last quarter.

Nuveen Floating Rate Income Fund Price Performance

NYSE JFR traded down $0.07 on Friday, reaching $8.92. The company’s stock had a trading volume of 436,593 shares, compared to its average volume of 538,318. The firm’s 50 day moving average is $8.96 and its two-hundred day moving average is $8.86. Nuveen Floating Rate Income Fund has a twelve month low of $8.07 and a twelve month high of $9.24.

Nuveen Floating Rate Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.085 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.02 annualized dividend and a dividend yield of 11.43%.

About Nuveen Floating Rate Income Fund

Nuveen Floating Rate Income Fund is a close ended fixed income mutual fund launched by Nuveen Investments, Inc It is co-managed by Nuveen Fund Advisors LLC and Symphony Asset Management LLC. The fund invests in fixed income markets of the United States. It primarily invests in adjustable rate secured and unsecured senior loans.