Nuveen Floating Rate Income Fund (NYSE:JFR) Share Price Crosses Below Fifty Day Moving Average – Should You Sell?

Nuveen Floating Rate Income Fund (NYSE:JFR)’s stock price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $7.70 and traded as low as $7.31. Nuveen Floating Rate Income Fund shares last traded at $7.4350, with a volume of 1,224,698 shares traded.

Nuveen Floating Rate Income Fund Price Performance

The company has a 50 day moving average price of $7.70 and a 200 day moving average price of $7.88.

Nuveen Floating Rate Income Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.078 per share. This represents a c) annualized dividend and a yield of 12.6%. The ex-dividend date of this dividend is Friday, March 13th.

Insider Transactions at Nuveen Floating Rate Income Fund

In other Nuveen Floating Rate Income Fund news, VP David J. Lamb sold 4,000 shares of the company’s stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $7.84, for a total transaction of $31,360.00. Following the transaction, the vice president directly owned 18,338 shares in the company, valued at approximately $143,769.92. This represents a 17.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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. Greykasell Wealth Strategies Inc. bought a new position in Nuveen Floating Rate Income Fund in the fourth quarter valued at approximately $25,000. CoreFirst Bank & Trust acquired a new position in shares of Nuveen Floating Rate Income Fund in the 2nd quarter valued at $32,000. Bfsg LLC acquired a new position in shares of Nuveen Floating Rate Income Fund in the 4th quarter valued at $36,000. CWM LLC boosted its position in shares of Nuveen Floating Rate Income Fund by 284.1% in the 4th 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. Finally, Global Wealth Strategies & Associates bought a new position in shares of Nuveen Floating Rate Income Fund in the 3rd quarter worth $40,000.

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.