Nuveen Floating Rate Income Fund (NYSE:JFR) Short Interest Up 111.7% in June

Nuveen Floating Rate Income Fund (NYSE:JFR) saw a significant increase in short interest in June. As of June 15th, there was short interest totaling 1,031,796 shares, an increase of 111.7% from the May 31st total of 487,499 shares. Based on an average trading volume of 763,186 shares, the days-to-cover ratio is currently 1.4 days.

Nuveen Floating Rate Income Fund Price Performance

Shares of NYSE:JFR opened at $7.66 on Tuesday. Nuveen Floating Rate Income Fund has a 12-month low of $7.16 and a 12-month high of $8.59. The business has a 50 day moving average of $7.58 and a two-hundred day moving average of $7.64.

Nuveen Floating Rate Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be issued a dividend of $0.078 per share. This represents a c) annualized dividend and a dividend yield of 12.2%. The ex-dividend date of this dividend is Monday, June 15th.

Hedge Funds Weigh In On Nuveen Floating Rate Income Fund

Large investors have recently made changes to their positions in the company. Sigma Planning Corp grew its position in Nuveen Floating Rate Income Fund by 8.9% during the fourth quarter. Sigma Planning Corp now owns 97,963 shares of the company’s stock valued at $768,000 after buying an additional 8,009 shares during the period. Farther Finance Advisors LLC raised its position in shares of Nuveen Floating Rate Income Fund by 14.4% in the fourth quarter. Farther Finance Advisors LLC now owns 17,195 shares of the company’s stock worth $135,000 after acquiring an additional 2,168 shares during the period. Coquina Private Wealth LLC acquired a new position in shares of Nuveen Floating Rate Income Fund in the fourth quarter worth about $356,000. GraniteShares Advisors LLC boosted its stake in shares of Nuveen Floating Rate Income Fund by 1.5% during the 4th quarter. GraniteShares Advisors LLC now owns 345,204 shares of the company’s stock worth $2,703,000 after acquiring an additional 4,980 shares in the last quarter. Finally, Choreo LLC boosted its stake 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 worth $1,233,000 after acquiring an additional 2,033 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.