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) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $7.85 and traded as low as $7.79. Nuveen Floating Rate Income Fund shares last traded at $7.8550, with a volume of 911,149 shares trading hands.

Nuveen Floating Rate Income Fund Stock Performance

The business’s fifty day moving average price is $7.85 and its 200 day moving average price is $8.12.

Nuveen Floating Rate Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Thursday, January 15th will be issued a dividend of $0.085 per share. The ex-dividend date of this dividend is Thursday, January 15th. This represents a c) annualized dividend and a yield of 13.0%.

Insider Activity at Nuveen Floating Rate Income Fund

In other news, VP David J. Lamb sold 4,000 shares of the stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $7.84, for a total value of $31,360.00. Following the completion of the sale, the vice president owned 18,338 shares of the company’s stock, valued at approximately $143,769.92. This represents a 17.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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. Kanen Wealth Management LLC grew its stake in Nuveen Floating Rate Income Fund by 266.8% during the third quarter. Kanen Wealth Management LLC now owns 507,900 shares of the company’s stock worth $4,147,000 after purchasing an additional 369,450 shares during the period. Cyndeo Wealth Partners LLC lifted its stake in Nuveen Floating Rate Income Fund by 25.2% in the second quarter. Cyndeo Wealth Partners LLC now owns 1,808,320 shares of the company’s stock valued at $15,316,000 after buying an additional 364,320 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Nuveen Floating Rate Income Fund by 21.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,371,038 shares of the company’s stock worth $11,215,000 after buying an additional 242,346 shares in the last quarter. City of London Investment Management Co. Ltd. grew its position in shares of Nuveen Floating Rate Income Fund by 619.3% during the 3rd quarter. City of London Investment Management Co. Ltd. now owns 255,523 shares of the company’s stock worth $2,090,000 after buying an additional 220,000 shares during the period. Finally, Penserra Capital Management LLC grew its position in shares of Nuveen Floating Rate Income Fund by 9.8% during the 3rd quarter. Penserra Capital Management LLC now owns 2,290,996 shares of the company’s stock worth $18,740,000 after buying an additional 204,618 shares during the period.

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.