Nuveen Floating Rate Income Fund (NYSE:JFR) Shares Cross Above Fifty Day Moving Average of $8.79

Nuveen Floating Rate Income Fund (NYSE:JFR) shares passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $8.79 and traded as high as $8.82. Nuveen Floating Rate Income Fund shares last traded at $8.81, with a volume of 263,647 shares changing hands.

Nuveen Floating Rate Income Fund Price Performance

The stock has a 50-day moving average price of $8.79 and a 200 day moving average price of $8.74.

Nuveen Floating Rate Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.085 dividend. This represents a $1.02 annualized dividend and a yield of 11.58%. The ex-dividend date of this dividend is Friday, September 13th.

Hedge Funds Weigh In On Nuveen Floating Rate Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jump Financial LLC purchased a new position in Nuveen Floating Rate Income Fund in the 4th quarter valued at about $161,000. Avantax Advisory Services Inc. raised its holdings in shares of Nuveen Floating Rate Income Fund by 24.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 23,107 shares of the company’s stock valued at $190,000 after acquiring an additional 4,539 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Nuveen Floating Rate Income Fund by 9.6% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 234,793 shares of the company’s stock valued at $1,930,000 after acquiring an additional 20,660 shares in the last quarter. Advisory Services Network LLC boosted its stake in shares of Nuveen Floating Rate Income Fund by 4.3% in the fourth quarter. Advisory Services Network LLC now owns 64,748 shares of the company’s stock worth $532,000 after acquiring an additional 2,697 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Nuveen Floating Rate Income Fund by 8.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 60,580 shares of the company’s stock worth $498,000 after purchasing an additional 4,584 shares in the last quarter.

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.