Nuveen Floating Rate Income Fund (NYSE:JFR) Sees Significant Drop in Short Interest

Nuveen Floating Rate Income Fund (NYSE:JFR) was the recipient of a significant decrease in short interest in March. As of March 15th, there was short interest totalling 271,700 shares, a decrease of 36.0% from the February 28th total of 424,700 shares. Based on an average daily trading volume, of 1,156,200 shares, the short-interest ratio is currently 0.2 days.

Nuveen Floating Rate Income Fund Price Performance

NYSE JFR traded up $0.02 during trading hours on Friday, hitting $8.45. The company’s stock had a trading volume of 476,893 shares, compared to its average volume of 681,236. Nuveen Floating Rate Income Fund has a 12 month low of $8.28 and a 12 month high of $9.24. The company’s 50 day simple moving average is $8.50 and its two-hundred day simple moving average is $8.77.

Nuveen Floating Rate Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.085 dividend. This represents a $1.02 annualized dividend and a dividend yield of 12.08%. The ex-dividend date of this dividend is Friday, March 14th.

Insider Transactions at Nuveen Floating Rate Income Fund

In other Nuveen Floating Rate Income Fund news, Portfolio Manager Scott C. Caraher acquired 15,000 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average cost of $8.40 per share, with a total value of $126,000.00. Following the transaction, the portfolio manager now owns 40,440 shares of the company’s stock, valued at $339,696. The trade was a 58.96 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Nuveen Floating Rate Income Fund

A number of institutional investors have recently bought and sold shares of JFR. Ameriflex Group Inc. purchased a new position in shares of Nuveen Floating Rate Income Fund during the 4th quarter valued at $29,000. Park Square Financial Group LLC purchased a new position in shares of Nuveen Floating Rate Income Fund in the fourth quarter valued at about $40,000. CoreFirst Bank & Trust bought a new position in shares of Nuveen Floating Rate Income Fund in the fourth quarter worth about $55,000. Cary Street Partners Financial LLC purchased a new stake in shares of Nuveen Floating Rate Income Fund during the fourth quarter worth about $93,000. Finally, Truist Financial Corp bought a new stake in Nuveen Floating Rate Income Fund during the 4th quarter valued at approximately $104,000.

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.