Nuveen Floating Rate Income Fund (NYSE:JFR) Share Price Crosses Below 50-Day Moving Average – Should You Sell?

Nuveen Floating Rate Income Fund (NYSE:JFR) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $8.96 and traded as low as $8.94. Nuveen Floating Rate Income Fund shares last traded at $9.00, with a volume of 278,893 shares trading hands.

Nuveen Floating Rate Income Fund Stock Down 0.2 %

The company has a fifty day moving average of $8.96 and a 200-day moving average of $8.85.

Nuveen Floating Rate Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.085 dividend. This represents a $1.02 annualized dividend and a yield of 11.36%. The ex-dividend date of this dividend is Friday, December 13th.

Insider Transactions at Nuveen Floating Rate Income Fund

In other Nuveen Floating Rate Income Fund news, insider Albin F. Moschner sold 20,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $8.77, for a total value of $175,400.00. Following the completion of the transaction, the insider now owns 13,400 shares in the company, valued at $117,518. The trade was a 59.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. increased its stake in shares of Nuveen Floating Rate Income Fund by 8.2% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 236,695 shares of the company’s stock worth $2,047,000 after buying an additional 18,028 shares during the period. Harbour Investments Inc. increased its position in shares of Nuveen Floating Rate Income Fund by 8.9% in the 2nd quarter. Harbour Investments Inc. now owns 72,897 shares of the company’s stock valued at $631,000 after purchasing an additional 5,956 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Nuveen Floating Rate Income Fund by 18.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 350,091 shares of the company’s stock valued at $3,028,000 after purchasing an additional 55,313 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Nuveen Floating Rate Income Fund by 45.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 34,240 shares of the company’s stock valued at $300,000 after purchasing an additional 10,662 shares in the last quarter. Finally, GraniteShares Advisors LLC lifted its position in shares of Nuveen Floating Rate Income Fund by 14.2% during the 2nd quarter. GraniteShares Advisors LLC now owns 237,310 shares of the company’s stock worth $2,053,000 after purchasing an additional 29,596 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.