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

Nuveen Floating Rate Income Fund (NYSE:JFR) saw a large growth in short interest in October. As of October 15th, there was short interest totalling 203,100 shares, a growth of 303.0% from the September 30th total of 50,400 shares. Based on an average daily trading volume, of 536,100 shares, the days-to-cover ratio is currently 0.4 days.

Nuveen Floating Rate Income Fund Stock Up 0.5 %

Shares of JFR stock traded up $0.04 during trading hours on Friday, reaching $8.90. 305,396 shares of the company traded hands, compared to its average volume of 548,911. The firm has a 50-day moving average price of $8.85 and a 200 day moving average price of $8.77. Nuveen Floating Rate Income Fund has a 12-month low of $7.61 and a 12-month high of $9.03.

Nuveen Floating Rate Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be given a dividend of $0.085 per share. This represents a $1.02 annualized dividend and a dividend yield of 11.46%. The ex-dividend date of this dividend is Tuesday, October 15th.

Insider Buying and Selling

In related news, insider Albin F. Moschner sold 20,000 shares of Nuveen Floating Rate Income Fund stock in a transaction 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 sale, the insider now owns 13,400 shares of the company’s stock, valued at $117,518. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its stake in Nuveen Floating Rate Income Fund by 742.0% during the third quarter. International Assets Investment Management LLC now owns 2,104,142 shares of the company’s stock valued at $18,559,000 after buying an additional 1,854,254 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Nuveen Floating Rate Income Fund by 34.2% during the 1st quarter. Advisors Asset Management Inc. now owns 985,390 shares of the company’s stock valued at $8,602,000 after acquiring an additional 251,382 shares during the last quarter. Congress Park Capital LLC grew its holdings in shares of Nuveen Floating Rate Income Fund by 18.4% in the third quarter. Congress Park Capital LLC now owns 1,494,238 shares of the company’s stock valued at $13,179,000 after purchasing an additional 232,590 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Nuveen Floating Rate Income Fund in the second quarter worth $1,019,000. Finally, Choreo LLC bought a new stake in Nuveen Floating Rate Income Fund in the first quarter worth $984,000.

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.