Nuveen Floating Rate Income Fund (NYSE:JFR) Stock Passes Below 50-Day Moving Average – What’s Next?

Nuveen Floating Rate Income Fund (NYSE:JFR) shares passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $8.84 and traded as low as $8.84. Nuveen Floating Rate Income Fund shares last traded at $8.87, with a volume of 469,697 shares traded.

Nuveen Floating Rate Income Fund Stock Performance

The business has a 50-day moving average price of $8.84 and a 200-day moving average price of $8.76.

Nuveen Floating Rate Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.085 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 11.50%. The ex-dividend date of this dividend is Tuesday, October 15th.

Insider Transactions at Nuveen Floating Rate Income Fund

In other news, insider Albin F. Moschner sold 20,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $8.77, for a total transaction of $175,400.00. Following the transaction, the insider now owns 13,400 shares of the company’s stock, valued at approximately $117,518. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Investors Weigh In On Nuveen Floating Rate Income Fund

A number of hedge funds have recently made changes to their positions in the stock. RFG Advisory LLC lifted its stake in shares of Nuveen Floating Rate Income Fund by 0.6% during the 3rd quarter. RFG Advisory LLC now owns 382,375 shares of the company’s stock worth $3,373,000 after purchasing an additional 2,400 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Nuveen Floating Rate Income Fund during the 3rd quarter worth $65,000. Congress Park Capital LLC lifted its stake in shares of Nuveen Floating Rate Income Fund by 18.4% during the 3rd quarter. Congress Park Capital LLC now owns 1,494,238 shares of the company’s stock worth $13,179,000 after purchasing an additional 232,590 shares during the last quarter. Kades & Cheifetz LLC lifted its stake in shares of Nuveen Floating Rate Income Fund by 3.7% during the 3rd quarter. Kades & Cheifetz LLC now owns 216,960 shares of the company’s stock worth $1,914,000 after purchasing an additional 7,664 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Nuveen Floating Rate Income Fund during the 2nd quarter worth $1,019,000.

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.