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

Shares of Nuveen Floating Rate Income Fund (NYSE:JFR) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $7.65 and traded as high as $7.69. Nuveen Floating Rate Income Fund shares last traded at $7.6750, with a volume of 401,156 shares.

Nuveen Floating Rate Income Fund Price Performance

The stock has a fifty day moving average of $7.65 and a two-hundred day moving average of $7.62.

Nuveen Floating Rate Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th will be issued a $0.078 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date is Wednesday, July 15th.

Institutional Trading of Nuveen Floating Rate Income Fund

Institutional investors have recently modified their holdings of the company. Greykasell Wealth Strategies Inc. purchased a new position in Nuveen Floating Rate Income Fund in the fourth quarter valued at approximately $25,000. Bfsg LLC purchased a new stake in Nuveen Floating Rate Income Fund during the fourth quarter worth approximately $36,000. CWM LLC increased its position in shares of Nuveen Floating Rate Income Fund by 284.1% in the fourth quarter. CWM LLC now owns 4,690 shares of the company’s stock worth $37,000 after acquiring an additional 3,469 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Nuveen Floating Rate Income Fund in the first quarter worth $41,000. Finally, Asset Dedication LLC purchased a new position in shares of Nuveen Floating Rate Income Fund in the 1st quarter valued at $42,000.

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.