Nuveen Floating Rate Income Opportunity Fund (NYSE:JRO) Sees Significant Decrease in Short Interest

Nuveen Floating Rate Income Opportunity Fund (NYSE:JROGet Rating) was the recipient of a large drop in short interest in April. As of April 30th, there was short interest totalling 127,700 shares, a drop of 63.0% from the April 15th total of 345,600 shares. Based on an average daily volume of 244,400 shares, the days-to-cover ratio is currently 0.5 days.

In related news, Portfolio Manager Scott C. Caraher purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 25th. The shares were purchased at an average price of $9.70 per share, with a total value of $48,500.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its holdings in shares of Nuveen Floating Rate Income Opportunity Fund by 2.7% during the 4th quarter. Bank of America Corp DE now owns 2,194,017 shares of the financial services provider’s stock valued at $22,225,000 after buying an additional 57,768 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Nuveen Floating Rate Income Opportunity Fund by 11.7% during the 3rd quarter. Morgan Stanley now owns 1,401,521 shares of the financial services provider’s stock valued at $13,987,000 after buying an additional 147,319 shares during the last quarter. Rivernorth Capital Management LLC lifted its holdings in shares of Nuveen Floating Rate Income Opportunity Fund by 295.0% during the 3rd quarter. Rivernorth Capital Management LLC now owns 1,184,348 shares of the financial services provider’s stock valued at $11,820,000 after buying an additional 884,542 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in shares of Nuveen Floating Rate Income Opportunity Fund by 4.9% during the 4th quarter. Guggenheim Capital LLC now owns 677,785 shares of the financial services provider’s stock valued at $6,866,000 after buying an additional 31,934 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Nuveen Floating Rate Income Opportunity Fund by 5.1% during the 4th quarter. Advisors Asset Management Inc. now owns 492,774 shares of the financial services provider’s stock valued at $4,992,000 after buying an additional 23,774 shares during the last quarter.

NYSE JRO traded up $0.05 during trading on Friday, reaching $8.39. 166,045 shares of the company’s stock were exchanged, compared to its average volume of 257,385. Nuveen Floating Rate Income Opportunity Fund has a fifty-two week low of $8.26 and a fifty-two week high of $10.49. The company’s fifty day simple moving average is $9.65 and its 200-day simple moving average is $9.93.

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Friday, May 13th will be given a dividend of $0.058 per share. The ex-dividend date is Thursday, May 12th. This represents a $0.70 dividend on an annualized basis and a yield of 8.30%.

Nuveen Floating Rate Income Opportunity Fund Company Profile (Get Rating)

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

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