Nuveen Floating Rate Income Fund (NYSE:JFR) Sees Significant Growth in Short Interest

Nuveen Floating Rate Income Fund (NYSE:JFR) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 542,200 shares, a growth of 21.7% from the December 15th total of 445,600 shares. Based on an average daily volume of 516,000 shares, the short-interest ratio is presently 1.1 days.

Nuveen Floating Rate Income Fund Price Performance

JFR stock opened at $8.65 on Friday. The company’s 50-day moving average price is $8.97 and its 200 day moving average price is $8.87. Nuveen Floating Rate Income Fund has a 52 week low of $8.20 and a 52 week high of $9.24.

Nuveen Floating Rate Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.085 per share. This represents a $1.02 annualized dividend and a dividend yield of 11.80%. The ex-dividend date of this dividend is Wednesday, January 15th.

Hedge Funds Weigh In On Nuveen Floating Rate Income Fund

Several hedge funds have recently bought and sold shares of JFR. Benjamin F. Edwards & Company Inc. boosted its position in Nuveen Floating Rate Income Fund by 36.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,500 shares of the company’s stock worth $39,000 after purchasing an additional 1,200 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Nuveen Floating Rate Income Fund during the 3rd quarter worth $65,000. Avior Wealth Management LLC boosted its position in shares of Nuveen Floating Rate Income Fund by 122.9% in the 3rd quarter. Avior Wealth Management LLC now owns 10,750 shares of the company’s stock worth $95,000 after buying an additional 5,927 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Nuveen Floating Rate Income Fund by 13.2% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 15,446 shares of the company’s stock worth $134,000 after buying an additional 1,806 shares in the last quarter. Finally, Financial & Tax Architects LLC acquired a new stake in Nuveen Floating Rate Income Fund in the 4th quarter valued at about $157,000.

About Nuveen Floating Rate Income Fund

Nuveen Floating Rate Income Fund is a close ended fixed income mutual fund launched by Nuveen Investments, Inc It is co-managed by Nuveen Fund Advisors LLC and Symphony Asset Management LLC. The fund invests in fixed income markets of the United States. It primarily invests in adjustable rate secured and unsecured senior loans.