Nuveen Floating Rate Income Fund (NYSE:JFR) Shares Shorted: Short Interest Down 83.1% in September

Nuveen Floating Rate Income Fund (NYSE:JFR) was the target of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 88,566 shares, a decline of 83.1% from the September 15th total of 523,354 shares. Based on an average trading volume of 991,343 shares, the days-to-cover ratio is presently 0.1 days.

Insiders Place Their Bets

In other news, insider Terence J. Toth sold 4,464 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $7.65, for a total value of $34,149.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Institutional Trading of Nuveen Floating Rate Income Fund

Large investors have recently modified their holdings of the business. Bank of America Corp DE purchased a new stake in shares of Nuveen Floating Rate Income Fund during the second quarter worth about $15,564,000. Icon Advisers Inc. Co. boosted its stake in Nuveen Floating Rate Income Fund by 1.1% in the 1st quarter. Icon Advisers Inc. Co. now owns 1,716,759 shares of the company’s stock worth $12,910,000 after buying an additional 19,288 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Nuveen Floating Rate Income Fund by 16.3% during the 1st quarter. Royal Bank of Canada now owns 1,279,118 shares of the company’s stock valued at $9,619,000 after acquiring an additional 178,977 shares during the last quarter. Kanen Wealth Management LLC boosted its position in shares of Nuveen Floating Rate Income Fund by 6.0% in the first quarter. Kanen Wealth Management LLC now owns 813,234 shares of the company’s stock worth $6,116,000 after acquiring an additional 45,800 shares during the last quarter. Finally, 1607 Capital Partners LLC purchased a new position in shares of Nuveen Floating Rate Income Fund in the 4th quarter worth $3,842,000.

Nuveen Floating Rate Income Fund Stock Up 0.9%

Shares of NYSE JFR traded up $0.07 during midday trading on Friday, hitting $7.42. The company had a trading volume of 711,556 shares, compared to its average volume of 760,636. The business has a 50-day simple moving average of $7.55 and a two-hundred day simple moving average of $7.57. Nuveen Floating Rate Income Fund has a twelve month low of $7.16 and a twelve month high of $8.14.

Nuveen Floating Rate Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be paid a dividend of $0.0780 per share. This represents a $0.94 annualized dividend and a dividend yield of 12.6%. The ex-dividend date of this dividend is Thursday, October 15th.

About Nuveen Floating Rate Income Fund

Nuveen Floating Rate Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol JFR. The fund seeks to provide a high level of current income by investing primarily in floating-rate senior secured loans and other floating-rate debt instruments.

Its portfolio generally focuses on loans made to companies with below-investment-grade credit ratings or companies whose credit quality is comparable to below-investment-grade issuers. These investments may offer protection against rising interest rates because their interest payments typically adjust periodically based on changes in short-term reference rates.

The fund may invest across a range of industries and in issuers located in the United States and other countries.