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

Shares of Nuveen Floating Rate Income Fund (NYSE:JFR) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $7.51 and traded as high as $7.61. Nuveen Floating Rate Income Fund shares last traded at $7.5050, with a volume of 520,519 shares.

Nuveen Floating Rate Income Fund Price Performance

The stock’s fifty day moving average is $7.51 and its two-hundred day moving average is $7.75.

Nuveen Floating Rate Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be issued a $0.078 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.5%. The ex-dividend date of this dividend is Wednesday, April 15th.

Institutional Trading of Nuveen Floating Rate Income Fund

A number of large investors have recently modified their holdings of JFR. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Nuveen Floating Rate Income Fund in the 4th quarter worth about $25,000. Bfsg LLC acquired a new stake in shares of Nuveen Floating Rate Income Fund in the 4th quarter worth about $36,000. CWM LLC increased its holdings 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 worth $37,000 after acquiring an additional 3,469 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Nuveen Floating Rate Income Fund in the 3rd quarter worth about $51,000. Finally, OpenArc Corporate Advisory LLC acquired a new stake in shares of Nuveen Floating Rate Income Fund in the 4th quarter worth about $80,000.

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.