Nuveen Floating Rate Income Fund (NYSE:JFR) Shares Up 0.4% After Dividend Announcement

Shares of Nuveen Floating Rate Income Fund (NYSE:JFR) traded up 0.4% during mid-day trading on Monday following a dividend announcement from the company. The stock traded as high as $7.86 and last traded at $7.8550. 1,192,914 shares were traded during mid-day trading, a decline of 0% from the average session volume of 1,194,257 shares. The stock had previously closed at $7.82.

The newly announced dividend which will be paid on Monday, February 2nd. Investors of record on Thursday, January 15th will be issued a dividend of $0.085 per share. This represents a c) dividend on an annualized basis and a yield of 13.0%. The ex-dividend date of this dividend is Thursday, January 15th.

Nuveen Floating Rate Income Fund Price Performance

The company has a 50-day simple moving average of $7.86 and a 200-day simple moving average of $8.16.

Insider Activity at Nuveen Floating Rate Income Fund

In other Nuveen Floating Rate Income Fund news, VP David J. Lamb sold 4,000 shares of the company’s stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $7.84, for a total transaction of $31,360.00. Following the transaction, the vice president directly owned 18,338 shares in the company, valued at approximately $143,769.92. This represents a 17.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Nuveen Floating Rate Income Fund

Several hedge funds have recently bought and sold shares of JFR. Integrated Wealth Concepts LLC grew its holdings in Nuveen Floating Rate Income Fund by 4.6% in the first quarter. Integrated Wealth Concepts LLC now owns 33,135 shares of the company’s stock valued at $281,000 after purchasing an additional 1,446 shares during the last quarter. Diversify Wealth Management LLC grew its stake in Nuveen Floating Rate Income Fund by 7.4% in the 3rd quarter. Diversify Wealth Management LLC now owns 29,201 shares of the company’s stock valued at $231,000 after acquiring an additional 2,000 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in Nuveen Floating Rate Income Fund by 1.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 128,855 shares of the company’s stock valued at $1,091,000 after acquiring an additional 2,086 shares during the last quarter. Allworth Financial LP increased its holdings in Nuveen Floating Rate Income Fund by 77.5% during the 2nd quarter. Allworth Financial LP now owns 4,919 shares of the company’s stock valued at $42,000 after acquiring an additional 2,148 shares in the last quarter. Finally, Advisory Services Network LLC raised its position in Nuveen Floating Rate Income Fund by 2.9% during the third quarter. Advisory Services Network LLC now owns 108,585 shares of the company’s stock worth $888,000 after acquiring an additional 3,084 shares during the last quarter.

Nuveen Floating Rate Income Fund Company Profile

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.