Nuveen Floating Rate Income Fund (NYSE:JFR) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

Nuveen Floating Rate Income Fund (NYSE:JFR) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $8.93 and traded as low as $8.52. Nuveen Floating Rate Income Fund shares last traded at $8.56, with a volume of 903,492 shares trading hands.

Nuveen Floating Rate Income Fund Stock Up 0.1 %

The firm’s 50-day moving average price is $8.93 and its 200-day moving average price is $8.86.

Nuveen Floating Rate Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be issued a $0.085 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.02 dividend on an annualized basis and a yield of 11.92%.

Institutional Investors Weigh In On Nuveen Floating Rate Income Fund

Hedge funds and other institutional investors have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. raised its stake in Nuveen Floating Rate Income Fund by 36.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,500 shares of the company’s stock valued at $39,000 after acquiring an additional 1,200 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Nuveen Floating Rate Income Fund during the 3rd quarter valued at $65,000. Avior Wealth Management LLC grew its holdings in shares of Nuveen Floating Rate Income Fund by 122.9% during the third quarter. Avior Wealth Management LLC now owns 10,750 shares of the company’s stock worth $95,000 after purchasing an additional 5,927 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Nuveen Floating Rate Income Fund by 13.2% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 15,446 shares of the company’s stock valued at $134,000 after purchasing an additional 1,806 shares during the period. Finally, Financial & Tax Architects LLC bought a new position in Nuveen Floating Rate Income Fund during the 4th quarter valued at about $157,000.

About Nuveen Floating Rate Income Fund

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.