Nuveen Floating Rate Income Fund (NYSE:JFR) Stock Price Passes Above Fifty Day Moving Average – Here’s Why

Nuveen Floating Rate Income Fund (NYSE:JFR – Get Free Report)’s stock price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $7.68 and traded as high as $7.84. Nuveen Floating Rate Income Fund shares last traded at $7.8150, with a volume of 771,012 shares.

Nuveen Floating Rate Income Fund Stock Performance

The stock has a 50 day simple moving average of $7.68 and a 200 day simple moving average of $7.61.

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Nuveen Floating Rate Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.078 per share. This represents a c) annualized dividend and a dividend yield of 12.0%. The ex-dividend date of this dividend is Friday, August 14th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Greykasell Wealth Strategies Inc. bought a new stake in Nuveen Floating Rate Income Fund during the fourth quarter worth about $25,000. CWM LLC raised its position in shares of Nuveen Floating Rate Income Fund by 284.1% in the 4th quarter. CWM LLC now owns 4,690 shares of the company’s stock valued at $37,000 after buying an additional 3,469 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in shares of Nuveen Floating Rate Income Fund in the 1st quarter valued at approximately $41,000. Asset Dedication LLC acquired a new position in shares of Nuveen Floating Rate Income Fund in the 1st quarter valued at approximately $42,000. Finally, Axiom Investment Management LLC bought a new stake in shares of Nuveen Floating Rate Income Fund during the 1st quarter worth approximately $48,000.

Nuveen Floating Rate Income Fund Company Profile

(Get Free Report)

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.

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