Nuveen Floating Rate Income Fund (NYSE:JFR) Share Price Passes Above Fifty Day Moving Average of $8.79

Nuveen Floating Rate Income Fund (NYSE:JFR)’s stock price 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 trading hands.

Nuveen Floating Rate Income Fund Stock Performance

The firm’s 50 day moving average is $8.79 and its two-hundred day moving average is $8.74.

Nuveen Floating Rate Income Fund Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JFR. Congress Park Capital LLC increased its holdings in shares of Nuveen Floating Rate Income Fund by 20.9% in the second quarter. Congress Park Capital LLC now owns 1,261,648 shares of the company’s stock worth $10,913,000 after acquiring an additional 218,221 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of Nuveen Floating Rate Income Fund by 34.2% in the 1st quarter. Advisors Asset Management Inc. now owns 985,390 shares of the company’s stock valued at $8,602,000 after purchasing an additional 251,382 shares during the period. 1607 Capital Partners LLC increased its stake in Nuveen Floating Rate Income Fund by 102.1% during the 4th quarter. 1607 Capital Partners LLC now owns 632,570 shares of the company’s stock worth $5,200,000 after purchasing an additional 319,600 shares in the last quarter. Coastal Bridge Advisors LLC lifted its stake in Nuveen Floating Rate Income Fund by 30.6% in the second quarter. Coastal Bridge Advisors LLC now owns 442,454 shares of the company’s stock valued at $3,827,000 after buying an additional 103,719 shares in the last quarter. Finally, RFG Advisory LLC boosted its holdings in shares of Nuveen Floating Rate Income Fund by 8.5% in the first quarter. RFG Advisory LLC now owns 388,475 shares of the company’s stock valued at $3,391,000 after buying an additional 30,316 shares during the period.

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.