Nuveen Floating Rate Income Fund (NYSE:JFR) Stock Short Interest Climbs 810.4%

Nuveen Floating Rate Income Fund (NYSE:JFR) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 806,337 shares, an increase of 810.4% from the September 30th total of 88,566 shares. Based on an average daily trading volume, of 952,733 shares, the short-interest ratio is currently 0.8 days.

Nuveen Floating Rate Income Fund Stock Down 0.2%

Nuveen Floating Rate Income Fund stock opened at $7.18 on Thursday. The company has a 50 day moving average price of $7.43 and a 200-day moving average price of $7.58. Nuveen Floating Rate Income Fund has a fifty-two week low of $7.09 and a fifty-two week high of $8.00.

Nuveen Floating Rate Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be given a dividend of $0.0780 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.94 dividend on an annualized basis and a yield of 13.0%.

Insider Transactions at Nuveen Floating Rate Income Fund

In other Nuveen Floating Rate Income Fund news, insider Terence J. Toth sold 4,464 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $7.65, for a total value of $34,149.60. The sale was disclosed in a filing with the SEC, which is available through this link.

Hedge Funds Weigh In On Nuveen Floating Rate Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in JFR. Bank of America Corp DE purchased a new stake in shares of Nuveen Floating Rate Income Fund in the 2nd quarter valued at approximately $15,564,000. Almitas Capital LLC purchased a new position in shares of Nuveen Floating Rate Income Fund during the 2nd quarter worth approximately $3,338,000. Coastal Bridge Advisors LLC purchased a new position in shares of Nuveen Floating Rate Income Fund during the 2nd quarter worth approximately $3,177,000. Saba Capital Management L.P. purchased a new position in shares of Nuveen Floating Rate Income Fund during the 1st quarter worth approximately $2,256,000. Finally, North Ground Capital purchased a new position in shares of Nuveen Floating Rate Income Fund during the 2nd quarter worth approximately $1,706,583.

About Nuveen Floating Rate Income Fund

Nuveen Floating Rate Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol JFR. The fund seeks to provide a high level of current income by investing primarily in floating-rate senior loans and other floating-rate debt securities.

Its portfolio generally focuses on loans issued by below-investment-grade companies. These instruments are typically senior secured obligations, meaning they may have priority over other forms of corporate debt and may be backed by collateral.