Short Interest in Nuveen Floating Rate Income Fund (NYSE:JFR) Rises By 52.6%

Nuveen Floating Rate Income Fund (NYSE:JFR) saw a significant growth in short interest in 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 trading volume of 521,500 shares, the days-to-cover ratio is presently 0.2 days.

Nuveen Floating Rate Income Fund Stock Down 0.6 %

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

Nuveen Floating Rate Income Fund Announces Dividend

The company 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 of this dividend is Friday, June 14th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 11.74%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Kovack Advisors Inc. raised its stake in Nuveen Floating Rate Income Fund by 2.7% during the first quarter. Kovack Advisors Inc. now owns 50,042 shares of the company’s stock worth $437,000 after acquiring an additional 1,297 shares in the last quarter. Jones Road Capital Management L.P. raised its stake in Nuveen Floating Rate Income Fund by 8.1% during the fourth quarter. Jones Road Capital Management L.P. now owns 21,325 shares of the company’s stock worth $175,000 after acquiring an additional 1,593 shares in the last quarter. Aviance Capital Partners LLC raised its stake in Nuveen Floating Rate Income Fund by 1.1% during the first quarter. Aviance Capital Partners LLC now owns 161,763 shares of the company’s stock worth $1,412,000 after acquiring an additional 1,782 shares in the last quarter. Mission Wealth Management LP raised its stake in Nuveen Floating Rate Income Fund by 1.5% during the first quarter. Mission Wealth Management LP now owns 129,340 shares of the company’s stock worth $1,129,000 after acquiring an additional 1,874 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Nuveen Floating Rate Income Fund by 28.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 9,000 shares of the company’s stock worth $74,000 after acquiring an additional 2,000 shares in 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.