Short Interest in Nuveen Floating Rate Income Fund (NYSE:JFR) Rises By 21.7%

Nuveen Floating Rate Income Fund (NYSE:JFR) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 542,200 shares, an increase of 21.7% from the December 15th total of 445,600 shares. Based on an average daily volume of 516,000 shares, the days-to-cover ratio is presently 1.1 days.

Nuveen Floating Rate Income Fund Stock Performance

Shares of Nuveen Floating Rate Income Fund stock traded down $0.01 on Friday, hitting $8.65. 1,734,857 shares of the company traded hands, compared to its average volume of 1,200,987. Nuveen Floating Rate Income Fund has a 12-month low of $8.20 and a 12-month high of $9.24. The firm’s 50-day simple moving average is $8.97 and its 200 day simple moving average is $8.87.

Nuveen Floating Rate Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be paid a $0.085 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 11.80%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of JFR. Mercer Global Advisors Inc. ADV boosted its position in Nuveen Floating Rate Income Fund by 13.2% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 15,446 shares of the company’s stock valued at $134,000 after buying an additional 1,806 shares during the period. Carolinas Wealth Consulting LLC bought a new position in shares of Nuveen Floating Rate Income Fund during the second quarter valued at about $167,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Nuveen Floating Rate Income Fund by 36.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,500 shares of the company’s stock worth $39,000 after purchasing an additional 1,200 shares during the period. DCF Advisers LLC bought a new stake in shares of Nuveen Floating Rate Income Fund in the second quarter worth about $255,000. Finally, Thrivent Financial for Lutherans raised its position in Nuveen Floating Rate Income Fund by 11.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 146,451 shares of the company’s stock valued at $1,266,000 after purchasing an additional 15,018 shares during the last quarter.

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.