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

Nuveen Floating Rate Income Fund (NYSE:JFR) shares passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $8.96 and traded as low as $8.94. Nuveen Floating Rate Income Fund shares last traded at $9.00, with a volume of 278,893 shares.

Nuveen Floating Rate Income Fund Price Performance

The company has a fifty day simple moving average of $8.96 and a two-hundred day simple moving average of $8.85.

Nuveen Floating Rate Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.085 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.02 annualized dividend and a dividend yield of 11.33%.

Insider Buying and Selling at Nuveen Floating Rate Income Fund

In related news, insider Albin F. Moschner sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $8.77, for a total value of $175,400.00. Following the sale, the insider now owns 13,400 shares of the company’s stock, valued at approximately $117,518. This represents a 59.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Nuveen Floating Rate Income Fund

Hedge funds have recently bought and sold shares of the stock. Aviance Capital Partners LLC lifted its position in shares of Nuveen Floating Rate Income Fund by 0.7% in the third quarter. Aviance Capital Partners LLC now owns 169,416 shares of the company’s stock valued at $1,494,000 after acquiring an additional 1,197 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in 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 purchasing an additional 1,200 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Nuveen Floating Rate Income Fund by 13.2% in the 2nd 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 in the last quarter. Capital Investment Advisors LLC lifted its holdings in 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 valued at $2,562,000 after purchasing an additional 2,005 shares in the last quarter. Finally, RFG Advisory LLC boosted 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.

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.