Nuveen Floating Rate Income Fund (NYSE:JFR) Stock Passes 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 Monday . The stock has a 50-day moving average of $8.99 and traded as low as $8.77. Nuveen Floating Rate Income Fund shares last traded at $8.79, with a volume of 1,510,154 shares trading hands.

Nuveen Floating Rate Income Fund Stock Performance

The stock has a 50-day moving average of $8.99 and a 200 day moving average of $8.87.

Nuveen Floating Rate Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.085 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 11.76%. The ex-dividend date is Wednesday, January 15th.

Hedge Funds Weigh In On Nuveen Floating Rate Income Fund

Several hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of Nuveen Floating Rate Income Fund by 742.0% in the 3rd 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 period. Penserra Capital Management LLC raised its holdings in shares of Nuveen Floating Rate Income Fund by 15.7% in the third quarter. Penserra Capital Management LLC now owns 1,839,248 shares of the company’s stock valued at $16,222,000 after buying an additional 249,794 shares during the last quarter. Congress Park Capital LLC lifted its stake in shares of Nuveen Floating Rate Income Fund by 3.3% in the 4th quarter. Congress Park Capital LLC now owns 1,544,201 shares of the company’s stock worth $13,774,000 after acquiring an additional 49,963 shares during the period. Advisors Asset Management Inc. boosted its holdings in Nuveen Floating Rate Income Fund by 9.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,016,412 shares of the company’s stock valued at $8,965,000 after purchasing an additional 87,029 shares in the last quarter. Finally, Pathstone Holdings LLC grew its holdings in Nuveen Floating Rate Income Fund by 138.6% during the third quarter. Pathstone Holdings LLC now owns 911,821 shares of the company’s stock worth $8,043,000 after acquiring an additional 529,677 shares during the period.

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.