Nuveen Floating Rate Income Fund (NYSE:JFR) Shares Cross Below 50-Day Moving Average – Time to Sell?

Shares of Nuveen Floating Rate Income Fund (NYSE:JFR) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $8.39 and traded as low as $7.71. Nuveen Floating Rate Income Fund shares last traded at $7.74, with a volume of 1,110,927 shares changing hands.

Nuveen Floating Rate Income Fund Price Performance

The stock’s 50-day moving average price is $8.37 and its two-hundred day moving average price is $8.71.

Nuveen Floating Rate Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be paid a $0.085 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.02 annualized dividend and a dividend yield of 12.89%.

Insider Buying and Selling at Nuveen Floating Rate Income Fund

In other news, Portfolio Manager Scott C. Caraher acquired 5,000 shares of Nuveen Floating Rate Income Fund stock in a transaction on Wednesday, April 9th. The stock was acquired at an average cost of $7.95 per share, for a total transaction of $39,750.00. Following the purchase, the portfolio manager now owns 45,440 shares in the company, valued at $361,248. This trade represents a 12.36 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Investors Weigh In On Nuveen Floating Rate Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in the company. RFG Advisory LLC boosted its stake in Nuveen Floating Rate Income Fund by 0.8% during the 1st quarter. RFG Advisory LLC now owns 383,941 shares of the company’s stock valued at $3,252,000 after purchasing an additional 2,941 shares during the last quarter. Merit Financial Group LLC purchased a new stake in shares of Nuveen Floating Rate Income Fund during the first quarter valued at $150,000. Andrew Hill Investment Advisors Inc. increased its holdings in Nuveen Floating Rate Income Fund by 21.2% in the 1st quarter. Andrew Hill Investment Advisors Inc. now owns 144,895 shares of the company’s stock worth $1,227,000 after buying an additional 25,391 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Nuveen Floating Rate Income Fund in the 4th quarter worth about $124,000. Finally, Park Square Financial Group LLC bought a new position in Nuveen Floating Rate Income Fund during the 4th quarter valued at about $40,000.

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.