Nuveen Floating Rate Income Fund (NYSE:JFR) Stock Price Crosses Above 50 Day Moving Average – Time to Sell?

Shares of Nuveen Floating Rate Income Fund (NYSE:JFR) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $7.54 and traded as high as $7.71. Nuveen Floating Rate Income Fund shares last traded at $7.6650, with a volume of 805,845 shares traded.

Nuveen Floating Rate Income Fund Price Performance

The stock’s 50-day simple moving average is $7.55 and its 200-day simple moving average is $7.66.

Nuveen Floating Rate Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a $0.078 dividend. This represents a c) dividend on an annualized basis and a yield of 12.2%. The ex-dividend date of this dividend is Monday, June 15th.

Insider Transactions at Nuveen Floating Rate Income Fund

In other news, Portfolio Manager Scott C. Caraher acquired 7,000 shares of Nuveen Floating Rate Income Fund stock in a transaction on Monday, March 30th. The stock was acquired at an average cost 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Investors Weigh In On Nuveen Floating Rate Income Fund

A number of institutional investors have recently added to or reduced their stakes in JFR. Royal Bank of Canada grew its position in Nuveen Floating Rate Income Fund by 11.0% in the 1st quarter. Royal Bank of Canada now owns 1,165,402 shares of the company’s stock worth $9,870,000 after purchasing an additional 115,098 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in Nuveen Floating Rate Income Fund by 4.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 33,135 shares of the company’s stock worth $281,000 after purchasing an additional 1,446 shares in the last quarter. Jane Street Group LLC grew its position in Nuveen Floating Rate Income Fund by 53.1% in the 1st quarter. Jane Street Group LLC now owns 42,062 shares of the company’s stock worth $356,000 after purchasing an additional 14,582 shares in the last quarter. Invesco Ltd. grew its position in Nuveen Floating Rate Income Fund by 0.8% in the 2nd quarter. Invesco Ltd. now owns 2,683,125 shares of the company’s stock worth $22,726,000 after purchasing an additional 20,525 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in Nuveen Floating Rate Income Fund in the 2nd quarter worth about $485,000.

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.