Nuveen Floating Rate Income Fund (NYSE:JFR) Shares Pass Above 50-Day Moving Average – Should You Sell?

Nuveen Floating Rate Income Fund (NYSE:JFR)’s share price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $7.46 and traded as high as $7.54. Nuveen Floating Rate Income Fund shares last traded at $7.5250, with a volume of 491,487 shares traded.

Nuveen Floating Rate Income Fund Trading Down 0.1%

The stock has a fifty day simple moving average of $7.46 and a two-hundred day simple moving average of $7.71.

Nuveen Floating Rate Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be paid a $0.078 dividend. The ex-dividend date is Friday, May 15th. This represents a c) annualized dividend and a dividend yield of 12.4%.

Insider Activity at Nuveen Floating Rate Income Fund

In other news, Portfolio Manager Scott C. Caraher bought 7,000 shares of Nuveen Floating Rate Income Fund stock in a transaction dated Monday, March 30th. The stock was bought at an average cost of $7.24 per share, for a total transaction of $50,680.00. Following the purchase, the portfolio manager directly owned 52,440 shares in the company, valued at approximately $379,665.60. This represents a 15.40% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Trading of Nuveen Floating Rate Income Fund

Large investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC lifted its position in 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 in the last quarter. Diversify Wealth Management LLC lifted its position in Nuveen Floating Rate Income Fund by 7.4% in 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 position in Nuveen Floating Rate Income Fund by 1.3% in 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 lifted its position in Nuveen Floating Rate Income Fund by 1.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 128,855 shares of the company’s stock valued at $1,091,000 after acquiring an additional 2,086 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Nuveen Floating Rate Income Fund by 14.4% in the 4th quarter. Farther Finance Advisors LLC now owns 17,195 shares of the company’s stock valued at $135,000 after acquiring an additional 2,168 shares in the last quarter.

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.