Nuveen Floating Rate Income Fund (NYSE:JFR) Stock Price Crosses Below 50 Day Moving Average – What’s Next?

Nuveen Floating Rate Income Fund (NYSE:JFR) shares passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $7.67 and traded as low as $7.60. Nuveen Floating Rate Income Fund shares last traded at $7.6250, with a volume of 534,399 shares.

Nuveen Floating Rate Income Fund Stock Down 0.3%

The company’s fifty day simple moving average is $7.67 and its 200-day simple moving average is $7.58.

Nuveen Floating Rate Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a $0.078 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 12.3%.

Insider Transactions at Nuveen Floating Rate Income Fund

In related news, insider Terence J. Toth sold 4,464 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On Nuveen Floating Rate Income Fund

A number of hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its position in shares of Nuveen Floating Rate Income Fund by 11.0% during the 1st quarter. Royal Bank of Canada now owns 1,165,402 shares of the company’s stock worth $9,870,000 after buying an additional 115,098 shares during the period. Integrated Wealth Concepts LLC grew its position in Nuveen Floating Rate Income Fund by 4.6% in the first 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. Jane Street Group LLC grew its position in Nuveen Floating Rate Income Fund by 53.1% in the first quarter. Jane Street Group LLC now owns 42,062 shares of the company’s stock valued at $356,000 after acquiring an additional 14,582 shares during the period. Invesco Ltd. grew its position in Nuveen Floating Rate Income Fund by 0.8% in the second quarter. Invesco Ltd. now owns 2,683,125 shares of the company’s stock valued at $22,726,000 after acquiring an additional 20,525 shares during the period. Finally, First Trust Advisors LP acquired a new position in Nuveen Floating Rate Income Fund during the second quarter worth $485,000.

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.