Nuveen Floating Rate Income Fund (NYSE:JFR) Short Interest Up 303.0% in October

Nuveen Floating Rate Income Fund (NYSE:JFR) saw a significant growth in short interest in the month of 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 volume of 536,100 shares, the days-to-cover ratio is currently 0.4 days.

Insider Transactions at Nuveen Floating Rate Income Fund

In related news, insider Albin F. Moschner sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $8.77, for a total transaction of $175,400.00. Following the sale, the insider now owns 13,400 shares in the company, valued at approximately $117,518. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Nuveen Floating Rate Income Fund by 36.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,500 shares of the company’s stock worth $39,000 after buying an additional 1,200 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Nuveen Floating Rate Income Fund in the third quarter valued at $65,000. Csenge Advisory Group purchased a new position in Nuveen Floating Rate Income Fund during the 1st quarter valued at about $95,000. GM Advisory Group LLC purchased a new stake in Nuveen Floating Rate Income Fund in the 1st quarter worth approximately $104,000. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Nuveen Floating Rate Income Fund by 13.2% in the second quarter. Mercer Global Advisors Inc. ADV now owns 15,446 shares of the company’s stock worth $134,000 after buying an additional 1,806 shares in the last quarter.

Nuveen Floating Rate Income Fund Trading Up 0.5 %

Shares of JFR stock traded up $0.04 on Friday, hitting $8.90. The company had a trading volume of 305,396 shares, compared to its average volume of 548,911. Nuveen Floating Rate Income Fund has a twelve month low of $7.61 and a twelve month high of $9.03. The stock’s 50-day moving average is $8.85 and its two-hundred day moving average is $8.77.

Nuveen Floating Rate Income Fund Announces Dividend

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

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.