Nuveen Floating Rate Income Fund (NYSE:JFR) announced a monthly dividend on Tuesday, May 2nd. Shareholders of record on Monday, May 15th will be given a dividend of 0.0675 per share on Thursday, June 1st. This represents a $0.81 annualized dividend and a yield of 6.91%. The ex-dividend date of this dividend is Thursday, May 11th.
Nuveen Floating Rate Income Fund has decreased its dividend by an average of 4.4% annually over the last three years.
Nuveen Floating Rate Income Fund (NYSE:JFR) traded up 0.34% during mid-day trading on Friday, reaching $11.73. 171,410 shares of the company’s stock traded hands. Nuveen Floating Rate Income Fund has a 12-month low of $10.09 and a 12-month high of $12.34. The stock has a 50 day moving average of $11.52 and a 200 day moving average of $11.59.
In other news, insider Albin F. Moschner purchased 25,000 shares of the company’s stock in a transaction on Tuesday, February 14th. The stock was acquired at an average cost of $12.02 per share, for a total transaction of $300,500.00. Following the completion of the transaction, the insider now directly owns 25,000 shares in the company, valued at approximately $300,500. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP David J. Lamb purchased 4,000 shares of the company’s stock in a transaction on Tuesday, March 21st. The stock was purchased at an average price of $11.30 per share, with a total value of $45,200.00. Following the completion of the transaction, the vice president now owns 4,000 shares of the company’s stock, valued at $45,200. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 29,200 shares of company stock valued at $347,980.
Nuveen Floating Rate Income Fund Company Profile
Nuveen Floating Rate Income Fund is a diversified, closed-end management investment company. The Fund’s investment objective is to achieve a high level of current income. It invests approximately 80% of managed assets in adjustable rate loans, primarily secured senior loans. The Fund also may invest in unsecured senior loans and secured and unsecured subordinated loans.