Nuveen Floating Rate Income Fund (NYSE:JFR) Share Price Crosses Below 50-Day Moving Average of $8.63

Shares of Nuveen Floating Rate Income Fund (NYSE:JFR) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $8.63 and traded as low as $8.53. Nuveen Floating Rate Income Fund shares last traded at $8.58, with a volume of 355,393 shares trading hands.

Nuveen Floating Rate Income Fund Stock Performance

The company’s fifty day moving average is $8.63 and its 200-day moving average is $8.28.

Nuveen Floating Rate Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be issued a $0.085 dividend. This represents a $1.02 annualized dividend and a yield of 11.90%. The ex-dividend date of this dividend is Friday, April 12th.

Insiders Place Their Bets

In other news, VP Michael A. Perry purchased 6,600 shares of the business’s stock in a transaction on Monday, March 11th. The shares were acquired at an average cost of $8.67 per share, with a total value of $57,222.00. Following the completion of the acquisition, the vice president now owns 6,600 shares of the company’s stock, valued at $57,222. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Hedge Funds Weigh In On Nuveen Floating Rate Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of JFR. Mission Wealth Management LP acquired a new stake in shares of Nuveen Floating Rate Income Fund during the third quarter worth $1,087,000. Sheets Smith Wealth Management lifted its stake in shares of Nuveen Floating Rate Income Fund by 89.9% during the third quarter. Sheets Smith Wealth Management now owns 30,007 shares of the company’s stock worth $246,000 after buying an additional 14,207 shares during the period. CWM LLC lifted its stake in shares of Nuveen Floating Rate Income Fund by 1,032.7% during the third quarter. CWM LLC now owns 17,557 shares of the company’s stock worth $144,000 after buying an additional 16,007 shares during the period. Barrett & Company Inc. acquired a new stake in shares of Nuveen Floating Rate Income Fund during the third quarter worth $37,000. Finally, CreativeOne Wealth LLC acquired a new stake in shares of Nuveen Floating Rate Income Fund during the third quarter worth $100,000.

Nuveen Floating Rate Income Fund Company Profile

Nuveen Floating Rate Income Fund is a close ended fixed income mutual fund launched by Nuveen Investments, Inc It is co-managed by Nuveen Fund Advisors LLC and Symphony Asset Management LLC. The fund invests in fixed income markets of the United States. It primarily invests in adjustable rate secured and unsecured senior loans.