Nuveen Floating Rate Income Fund (NYSE:JFR) Sees Large Increase in Short Interest

Nuveen Floating Rate Income Fund (NYSE:JFR) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 445,600 shares, a growth of 50.7% from the November 30th total of 295,700 shares. Based on an average daily volume of 508,100 shares, the days-to-cover ratio is currently 0.9 days.

Nuveen Floating Rate Income Fund Trading Down 0.8 %

Nuveen Floating Rate Income Fund stock opened at $8.92 on Monday. Nuveen Floating Rate Income Fund has a one year low of $8.07 and a one year high of $9.24. The stock has a 50-day moving average of $8.96 and a two-hundred day moving average of $8.86.

Nuveen Floating Rate Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.085 per share. This represents a $1.02 annualized dividend and a yield of 11.43%. The ex-dividend date of this dividend is Friday, December 13th.

Insiders Place Their Bets

In other news, insider Albin F. Moschner sold 20,000 shares of the company’s 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 directly owns 13,400 shares of the company’s stock, valued at approximately $117,518. This represents a 59.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in JFR. Cambridge Investment Research Advisors Inc. increased its position in shares of Nuveen Floating Rate Income Fund by 8.2% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 236,695 shares of the company’s stock valued at $2,047,000 after acquiring an additional 18,028 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Nuveen Floating Rate Income Fund by 18.8% in the second quarter. Commonwealth Equity Services LLC now owns 350,091 shares of the company’s stock worth $3,028,000 after purchasing an additional 55,313 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Nuveen Floating Rate Income Fund by 45.2% in the second quarter. Farther Finance Advisors LLC now owns 34,240 shares of the company’s stock worth $300,000 after purchasing an additional 10,662 shares during the last quarter. GraniteShares Advisors LLC lifted its holdings in shares of Nuveen Floating Rate Income Fund by 14.2% during the second quarter. GraniteShares Advisors LLC now owns 237,310 shares of the company’s stock worth $2,053,000 after purchasing an additional 29,596 shares during the period. Finally, Prevail Innovative Wealth Advisors LLC boosted its position in Nuveen Floating Rate Income Fund by 31.3% in the second quarter. Prevail Innovative Wealth Advisors LLC now owns 224,853 shares of the company’s stock valued at $1,945,000 after buying an additional 53,569 shares during 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.