Nuveen Floating Rate Income Fund (NYSE:JFR) Stock Price Crosses Above Fifty Day Moving Average – Should You Sell?

Nuveen Floating Rate Income Fund (NYSE:JFR) shares passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $7.65 and traded as high as $7.69. Nuveen Floating Rate Income Fund shares last traded at $7.6750, with a volume of 401,156 shares changing hands.

Nuveen Floating Rate Income Fund Stock Up 0.6%

The company’s fifty day simple moving average is $7.66 and its two-hundred day simple moving average is $7.62.

Nuveen Floating Rate Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th will be given a $0.078 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 12.1%.

Institutional Trading of Nuveen Floating Rate Income Fund

Several hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings 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 valued at $9,870,000 after buying an additional 115,098 shares in the last quarter. Integrated Wealth Concepts LLC increased its position in Nuveen Floating Rate Income Fund by 4.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 33,135 shares of the company’s stock worth $281,000 after buying an additional 1,446 shares during the period. Jane Street Group LLC lifted its holdings in shares of Nuveen Floating Rate Income Fund by 53.1% during the first quarter. Jane Street Group LLC now owns 42,062 shares of the company’s stock worth $356,000 after buying an additional 14,582 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Nuveen Floating Rate Income Fund by 0.8% during the second quarter. Invesco Ltd. now owns 2,683,125 shares of the company’s stock worth $22,726,000 after buying an additional 20,525 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in shares of Nuveen Floating Rate Income Fund in the second quarter valued at 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.