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

Nuveen Floating Rate Income Fund (NYSE:JFR) saw a large decline in short interest during the month of April. As of April 30th, there was short interest totaling 138,133 shares, a decline of 61.1% from the April 15th total of 355,544 shares. Based on an average daily volume of 639,344 shares, the short-interest ratio is currently 0.2 days.

Nuveen Floating Rate Income Fund Price Performance

Shares of JFR traded down $0.13 during midday trading on Friday, hitting $7.48. The company had a trading volume of 389,957 shares, compared to its average volume of 863,619. The company’s 50 day moving average price is $7.45 and its 200 day moving average price is $7.70. Nuveen Floating Rate Income Fund has a 52 week low of $7.16 and a 52 week high of $8.59.

Nuveen Floating Rate Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be given a $0.078 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a c) annualized dividend and a dividend yield of 12.5%.

Insider Buying and Selling at Nuveen Floating Rate Income Fund

In related news, Portfolio Manager Scott C. Caraher bought 7,000 shares of the company’s stock in a transaction dated Monday, March 30th. The stock was bought at an average price of $7.24 per share, with a total value of $50,680.00. Following the transaction, the portfolio manager owned 52,440 shares of the company’s stock, valued at approximately $379,665.60. This trade represents a 15.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Investors Weigh In On Nuveen Floating Rate Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rivernorth Capital Management LLC acquired a new position in shares of Nuveen Floating Rate Income Fund in the 4th quarter valued at about $21,712,000. Wells Fargo & Company MN boosted its holdings in shares of Nuveen Floating Rate Income Fund by 158.2% in the 4th quarter. Wells Fargo & Company MN now owns 1,616,253 shares of the company’s stock valued at $12,655,000 after buying an additional 990,177 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of Nuveen Floating Rate Income Fund by 513.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,003,705 shares of the company’s stock valued at $7,859,000 after buying an additional 840,129 shares during the period. 1607 Capital Partners LLC acquired a new position in shares of Nuveen Floating Rate Income Fund in the 4th quarter valued at about $3,842,000. Finally, Jane Street Group LLC boosted its holdings in shares of Nuveen Floating Rate Income Fund by 237.4% in the 4th quarter. Jane Street Group LLC now owns 546,411 shares of the company’s stock valued at $4,278,000 after buying an additional 384,452 shares during the period.

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.