Nuveen Floating Rate Income Fund (NYSE:JFR) Plans $0.09 Monthly Dividend

Nuveen Floating Rate Income Fund (NYSE:JFR) announced a monthly dividend on Tuesday, June 3rd, Wall Street Journal reports. Investors of record on Friday, June 13th will be paid a dividend of 0.085 per share on Tuesday, July 1st. This represents a $1.02 annualized dividend and a dividend yield of 12.24%. The ex-dividend date is Friday, June 13th.

Nuveen Floating Rate Income Fund Price Performance

JFR stock opened at $8.33 on Wednesday. Nuveen Floating Rate Income Fund has a fifty-two week low of $7.12 and a fifty-two week high of $9.24. The company has a 50-day simple moving average of $8.11 and a 200 day simple moving average of $8.51.

Insiders Place Their Bets

In other Nuveen Floating Rate Income Fund news, Portfolio Manager Scott C. Caraher bought 5,000 shares of Nuveen Floating Rate Income Fund stock in a transaction that occurred on Wednesday, April 9th. The stock was acquired at an average price of $7.95 per share, for a total transaction of $39,750.00. Following the completion of the acquisition, the portfolio manager now owns 45,440 shares of the company’s stock, valued at $361,248. This trade represents a 12.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Institutional Trading of Nuveen Floating Rate Income Fund

Several hedge funds have recently added to or reduced their stakes in JFR. Royal Bank of Canada raised its stake in Nuveen Floating Rate Income Fund by 11.0% during the first quarter. Royal Bank of Canada now owns 1,165,402 shares of the company’s stock worth $9,870,000 after acquiring an additional 115,098 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Nuveen Floating Rate Income Fund by 53.1% during the 1st quarter. Jane Street Group LLC now owns 42,062 shares of the company’s stock worth $356,000 after buying an additional 14,582 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its holdings in shares of Nuveen Floating Rate Income Fund by 4.6% during the first quarter. Integrated Wealth Concepts LLC now owns 33,135 shares of the company’s stock valued at $281,000 after purchasing an additional 1,446 shares during the period.

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.