Nuveen Floating Rate Income Fund (NYSE:JFR) Short Interest Update

Nuveen Floating Rate Income Fund (NYSE:JFR) was the target of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 271,700 shares, a decline of 36.0% from the February 28th total of 424,700 shares. Based on an average trading volume of 1,156,200 shares, the days-to-cover ratio is presently 0.2 days.

Nuveen Floating Rate Income Fund Stock Performance

Shares of NYSE JFR traded up $0.02 during trading hours on Friday, hitting $8.45. 476,893 shares of the company traded hands, compared to its average volume of 681,236. The company’s 50 day moving average price is $8.50 and its 200 day moving average price is $8.77. Nuveen Floating Rate Income Fund has a 12 month low of $8.28 and a 12 month high of $9.24.

Nuveen Floating Rate Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.085 per share. This represents a $1.02 annualized dividend and a yield of 12.08%. The ex-dividend date is Friday, March 14th.

Insiders Place Their Bets

In related news, Portfolio Manager Scott C. Caraher acquired 15,000 shares of Nuveen Floating Rate Income Fund stock in a transaction on Friday, March 21st. The shares were bought at an average cost of $8.40 per share, with a total value of $126,000.00. Following the completion of the purchase, the portfolio manager now directly owns 40,440 shares of the company’s stock, valued at $339,696. The trade was a 58.96 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Guggenheim Capital LLC boosted its stake in shares of Nuveen Floating Rate Income Fund by 21.5% during the 4th quarter. Guggenheim Capital LLC now owns 1,798,818 shares of the company’s stock worth $16,045,000 after purchasing an additional 318,303 shares during the period. Congress Park Capital LLC lifted its stake in Nuveen Floating Rate Income Fund by 3.3% in the fourth quarter. Congress Park Capital LLC now owns 1,544,201 shares of the company’s stock worth $13,774,000 after purchasing an additional 49,963 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Nuveen Floating Rate Income Fund during the fourth quarter valued at approximately $12,175,000. Advisors Asset Management Inc. grew its stake in shares of Nuveen Floating Rate Income Fund by 4.3% during the fourth quarter. Advisors Asset Management Inc. now owns 1,059,671 shares of the company’s stock valued at $9,452,000 after buying an additional 43,259 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Nuveen Floating Rate Income Fund by 16.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 880,665 shares of the company’s stock worth $7,856,000 after buying an additional 127,024 shares during the period.

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.