Short Interest in Nuveen Floating Rate Income Fund (NYSE:JFR) Expands By 111.7%

Nuveen Floating Rate Income Fund (NYSE:JFR) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 1,031,796 shares, an increase of 111.7% from the May 31st total of 487,499 shares. Based on an average trading volume of 763,186 shares, the days-to-cover ratio is presently 1.4 days.

Hedge Funds Weigh In On Nuveen Floating Rate Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Nuveen Floating Rate Income Fund in the 4th quarter valued at $25,000. Bfsg LLC acquired a new stake in shares of Nuveen Floating Rate Income Fund in the fourth quarter worth $36,000. CWM LLC raised its holdings in shares of Nuveen Floating Rate Income Fund by 284.1% during the fourth quarter. CWM LLC now owns 4,690 shares of the company’s stock worth $37,000 after purchasing an additional 3,469 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in shares of Nuveen Floating Rate Income Fund during the first quarter worth $41,000. Finally, Asset Dedication LLC acquired a new position in Nuveen Floating Rate Income Fund during the first quarter valued at $42,000.

Nuveen Floating Rate Income Fund Trading Up 0.1%

Nuveen Floating Rate Income Fund stock opened at $7.66 on Tuesday. The business’s 50-day simple moving average is $7.58 and its two-hundred day simple moving average is $7.64. Nuveen Floating Rate Income Fund has a fifty-two week low of $7.16 and a fifty-two week high of $8.59.

Nuveen Floating Rate Income Fund Dividend Announcement

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

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.