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

Nuveen Floating Rate Income Fund (NYSE:JFR – Get Rating) saw a significant decrease in short interest in May. As of May 15th, there was short interest totalling 25,700 shares, a decrease of 38.7% from the April 30th total of 41,900 shares. Based on an average trading volume of 233,900 shares, the short-interest ratio is presently 0.1 days.

Several institutional investors and hedge funds have recently made changes to their positions in the company. M Holdings Securities Inc. bought a new position in shares of Nuveen Floating Rate Income Fund in the first quarter worth approximately $140,000. Advisory Services Network LLC boosted its stake in shares of Nuveen Floating Rate Income Fund by 18.1% during the first quarter. Advisory Services Network LLC now owns 23,265 shares of the company’s stock valued at $233,000 after purchasing an additional 3,570 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Nuveen Floating Rate Income Fund by 50.6% during the first quarter. Advisors Asset Management Inc. now owns 269,914 shares of the company’s stock valued at $2,702,000 after purchasing an additional 90,702 shares during the period. Royal Bank of Canada boosted its stake in shares of Nuveen Floating Rate Income Fund by 6.4% during the first quarter. Royal Bank of Canada now owns 597,097 shares of the company’s stock valued at $5,977,000 after purchasing an additional 35,770 shares during the period. Finally, Guggenheim Capital LLC boosted its stake in shares of Nuveen Floating Rate Income Fund by 24.3% during the first quarter. Guggenheim Capital LLC now owns 901,376 shares of the company’s stock valued at $9,023,000 after purchasing an additional 176,434 shares during the period.

Shares of JFR stock traded up $0.13 during trading hours on Friday, hitting $8.76. 375,685 shares of the company were exchanged, compared to its average volume of 259,470. The business has a 50 day moving average of $9.43 and a two-hundred day moving average of $9.89. Nuveen Floating Rate Income Fund has a 52 week low of $8.30 and a 52 week high of $10.65.

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Friday, May 13th will be issued a dividend of $0.058 per share. This represents a $0.70 annualized dividend and a yield of 7.95%. The ex-dividend date of this dividend is Thursday, May 12th.

About Nuveen Floating Rate Income Fund (Get Rating)

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.

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