Short Interest in Nuveen Floating Rate Income Fund (NYSE:JFR) Increases By 51.3%

Nuveen Floating Rate Income Fund (NYSE:JFR) was the recipient of a large increase in short interest in February. As of February 15th, there was short interest totalling 7,550,000 shares, an increase of 51.3% from the January 31st total of 4,990,000 shares. Based on an average daily volume of 994,100 shares, the days-to-cover ratio is currently 7.6 days.

Nuveen Floating Rate Income Fund Stock Performance

NYSE JFR traded down $0.02 during mid-day trading on Tuesday, reaching $8.50. 1,728,432 shares of the stock were exchanged, compared to its average volume of 1,327,413. Nuveen Floating Rate Income Fund has a 1 year low of $8.28 and a 1 year high of $9.24. The business’s 50 day moving average is $8.68 and its 200-day moving average is $8.82.

Nuveen Floating Rate Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.085 dividend. This represents a $1.02 annualized dividend and a yield of 12.01%. The ex-dividend date is Friday, March 14th.

Institutional Trading of Nuveen Floating Rate Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Park Square Financial Group LLC purchased a new position in shares of Nuveen Floating Rate Income Fund during the 4th quarter valued at approximately $40,000. Ameriflex Group Inc. purchased a new position in Nuveen Floating Rate Income Fund during the fourth quarter valued at $29,000. Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of Nuveen Floating Rate Income Fund in the fourth quarter valued at about $303,000. Western Wealth Management LLC raised its position in shares of Nuveen Floating Rate Income Fund by 7.5% during the 4th quarter. Western Wealth Management LLC now owns 39,702 shares of the company’s stock worth $354,000 after purchasing an additional 2,774 shares during the last quarter. Finally, Elequin Capital LP purchased a new position in Nuveen Floating Rate Income Fund in the 4th quarter valued at about $105,000.

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.