Nuveen Floating Rate Income Fund (NYSE:JFR) Share Price Passes Below 50 Day Moving Average – Here’s Why

Nuveen Floating Rate Income Fund (NYSE:JFR)’s stock price crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $8.99 and traded as low as $8.77. Nuveen Floating Rate Income Fund shares last traded at $8.79, with a volume of 1,510,154 shares traded.

Nuveen Floating Rate Income Fund Trading Down 1.1 %

The firm’s fifty day moving average price is $8.99 and its two-hundred day moving average price is $8.87.

Nuveen Floating Rate Income Fund Dividend Announcement

The business also recently announced 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 11.76%.

Hedge Funds Weigh In On Nuveen Floating Rate Income Fund

Several large investors have recently made changes to their positions in the business. Aviance Capital Partners LLC raised its position in shares of Nuveen Floating Rate Income Fund by 0.7% during the 3rd quarter. Aviance Capital Partners LLC now owns 169,416 shares of the company’s stock valued at $1,494,000 after buying an additional 1,197 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of 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. Mercer Global Advisors Inc. ADV grew its stake in Nuveen Floating Rate Income Fund by 13.2% in the second 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 last quarter. Capital Investment Advisors LLC grew its position in shares of Nuveen Floating Rate Income Fund by 0.7% in the 3rd quarter. Capital Investment Advisors LLC now owns 290,521 shares of the company’s stock worth $2,562,000 after buying an additional 2,005 shares during the last quarter. Finally, RFG Advisory LLC increased its position in shares of Nuveen Floating Rate Income Fund by 0.6% during the third 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 in the last quarter.

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.