Nuveen Floating Rate Income Fund (NYSE:JFR) Sees Large Decline in Short Interest

Nuveen Floating Rate Income Fund (NYSE:JFR) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 271,700 shares, a drop of 36.0% from the February 28th total of 424,700 shares. Based on an average daily volume of 1,156,200 shares, the days-to-cover ratio is presently 0.2 days.

Nuveen Floating Rate Income Fund Trading Up 0.7 %

Shares of Nuveen Floating Rate Income Fund stock traded up $0.06 during trading on Monday, hitting $8.51. The stock had a trading volume of 1,932,895 shares, compared to its average volume of 686,222. Nuveen Floating Rate Income Fund has a 12 month low of $8.28 and a 12 month high of $9.24. The business’s 50-day moving average is $8.50 and its 200 day moving average is $8.77.

Nuveen Floating Rate Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.085 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 11.99%.

Insiders Place Their Bets

In other news, Portfolio Manager Scott C. Caraher acquired 15,000 shares of Nuveen Floating Rate Income Fund stock in a transaction that occurred on Friday, March 21st. The stock was bought at an average price of $8.40 per share, with a total value of $126,000.00. Following the completion of the purchase, the portfolio manager now owns 40,440 shares in the company, valued at approximately $339,696. The trade was a 58.96 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Investors Weigh In On Nuveen Floating Rate Income Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Nuveen Floating Rate Income Fund during the 4th quarter valued at $124,000. Park Square Financial Group LLC bought a new position in Nuveen Floating Rate Income Fund in the fourth quarter valued at $40,000. Ameriflex Group Inc. purchased a new stake in Nuveen Floating Rate Income Fund during the fourth quarter valued at about $29,000. Parr Mcknight Wealth Management Group LLC bought a new stake in Nuveen Floating Rate Income Fund during the fourth quarter worth about $303,000. Finally, Western Wealth Management LLC lifted its stake in Nuveen Floating Rate Income Fund by 7.5% during the fourth quarter. Western Wealth Management LLC now owns 39,702 shares of the company’s stock worth $354,000 after purchasing an additional 2,774 shares during the last quarter.

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.