Nuveen Floating Rate Income Fund (NYSE:JFR) Share Price Passes Below Fifty Day Moving Average – Time to Sell?

Nuveen Floating Rate Income Fund (NYSE:JFR) shares passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $7.77 and traded as low as $7.39. Nuveen Floating Rate Income Fund shares last traded at $7.4150, with a volume of 2,031,099 shares.

Nuveen Floating Rate Income Fund Stock Performance

The stock has a 50-day simple moving average of $7.77 and a 200-day simple moving average of $7.93.

Nuveen Floating Rate Income Fund Cuts Dividend

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

Insider Activity

In other news, VP David J. Lamb sold 4,000 shares of the business’s stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $7.84, for a total transaction of $31,360.00. Following the completion of the sale, the vice president owned 18,338 shares in the company, valued at approximately $143,769.92. The trade was a 17.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Investors Weigh In On Nuveen Floating Rate Income Fund

Institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC raised its stake in shares of Nuveen Floating Rate Income Fund by 4.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 33,135 shares of the company’s stock valued at $281,000 after acquiring an additional 1,446 shares during the period. Diversify Wealth Management LLC lifted its holdings in shares of Nuveen Floating Rate Income Fund by 7.4% during the 3rd quarter. Diversify Wealth Management LLC now owns 29,201 shares of the company’s stock valued at $231,000 after acquiring an additional 2,000 shares in the last quarter. Choreo LLC lifted its holdings in shares of Nuveen Floating Rate Income Fund by 1.3% during the 4th quarter. Choreo LLC now owns 156,340 shares of the company’s stock valued at $1,233,000 after acquiring an additional 2,033 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Nuveen Floating Rate Income Fund by 1.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 128,855 shares of the company’s stock worth $1,091,000 after purchasing an additional 2,086 shares during the period. Finally, Allworth Financial LP increased its holdings in Nuveen Floating Rate Income Fund by 77.5% in the 2nd quarter. Allworth Financial LP now owns 4,919 shares of the company’s stock valued at $42,000 after purchasing an additional 2,148 shares in the last quarter.

Nuveen Floating Rate Income Fund Company Profile

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.