Nuveen Floating Rate Income Fund (NYSE:JFR) Short Interest Update

Nuveen Floating Rate Income Fund (NYSE:JFR) saw a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 105,900 shares, a growth of 52.6% from the May 15th total of 69,400 shares. Based on an average daily volume of 521,500 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC raised its position in shares of Nuveen Floating Rate Income Fund by 779.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,951,110 shares of the company’s stock worth $16,038,000 after buying an additional 1,729,219 shares during the period. Invesco Ltd. lifted its stake in shares of Nuveen Floating Rate Income Fund by 142.0% in the 3rd quarter. Invesco Ltd. now owns 2,546,506 shares of the company’s stock valued at $20,907,000 after purchasing an additional 1,494,360 shares in the last quarter. Oaktree Capital Management LP acquired a new stake in Nuveen Floating Rate Income Fund during the 3rd quarter worth approximately $9,792,000. Saba Capital Management L.P. raised its holdings in Nuveen Floating Rate Income Fund by 1,467.1% in the third quarter. Saba Capital Management L.P. now owns 1,096,352 shares of the company’s stock valued at $9,001,000 after buying an additional 1,026,390 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in Nuveen Floating Rate Income Fund by 174.6% during the third quarter. Advisors Asset Management Inc. now owns 1,143,923 shares of the company’s stock worth $9,392,000 after buying an additional 727,372 shares during the period.

Nuveen Floating Rate Income Fund Trading Down 0.6 %

JFR stock traded down $0.05 during trading on Friday, hitting $8.69. The stock had a trading volume of 523,478 shares, compared to its average volume of 568,800. Nuveen Floating Rate Income Fund has a 1-year low of $7.61 and a 1-year high of $8.87. The company’s 50 day moving average price is $8.70 and its two-hundred day moving average price is $8.51.

Nuveen Floating Rate Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.085 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.02 annualized dividend and a yield of 11.74%.

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.