Short Interest in Nuveen Floating Rate Income Fund (NYSE:JFR) Increases By 50.7%

Nuveen Floating Rate Income Fund (NYSE:JFR) was the target of a large 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 trading volume, of 508,100 shares, the short-interest ratio is currently 0.9 days.

Insiders Place Their Bets

In other news, insider Albin F. Moschner sold 20,000 shares of Nuveen Floating Rate Income Fund 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 completion of the transaction, the insider now owns 13,400 shares in the company, valued at approximately $117,518. The trade was a 59.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Trading of Nuveen Floating Rate Income Fund

Institutional investors have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Nuveen Floating Rate Income Fund by 36.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,500 shares of the company’s stock worth $39,000 after acquiring an additional 1,200 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Nuveen Floating Rate Income Fund during the third quarter worth $65,000. Avior Wealth Management LLC boosted its stake in shares of Nuveen Floating Rate Income Fund by 122.9% during the third quarter. Avior Wealth Management LLC now owns 10,750 shares of the company’s stock valued at $95,000 after purchasing an additional 5,927 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in shares of Nuveen Floating Rate Income Fund by 13.2% during 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 period. Finally, Carolinas Wealth Consulting LLC bought a new position in shares of Nuveen Floating Rate Income Fund in the second quarter worth about $167,000.

Nuveen Floating Rate Income Fund Trading Down 0.8 %

JFR stock opened at $8.92 on Monday. Nuveen Floating Rate Income Fund has a twelve month low of $8.07 and a twelve month high of $9.24. The firm’s fifty day simple moving average is $8.96 and its two-hundred day simple moving average is $8.86.

Nuveen Floating Rate Income Fund Dividend Announcement

The company 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. This represents a $1.02 dividend on an annualized basis and a yield of 11.43%. The ex-dividend date is Friday, December 13th.

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.