In a recent transaction, Albin F. Moschner, a trustee for the Nuveen Floating Rate Income Fund (NYSE:JFR), sold shares of the fund's common stock, resulting in a total sale value of $175,400. The transaction took place on October 1, 2024, with the shares being sold at a price of $8.77 each.
The sale by Moschner is notable as trustees of investment funds are often privy to the inner workings of the organization, and their trading activities are closely watched by investors for potential signals. Following the transaction, Moschner's ownership in the fund decreased, leaving him with a total of 13,400 shares.
The Nuveen Floating Rate Income Fund is known for investing in a portfolio of floating-rate loans and other floating-rate securities. Its performance is closely tied to interest rate fluctuations, making the fund a potential hedge against rising interest rates.
Investors and market observers often scrutinize the buying and selling activities of company insiders such as trustees, executives, and directors. Such transactions are required to be reported to the Securities and Exchange Commission (SEC) and are publicly disclosed to ensure transparency and fair dealing in the market.
It's important to note that the reasons behind a trustee's decision to sell shares can vary and may not necessarily reflect a negative outlook on the fund's performance. Transactions may be part of personal financial planning, diversification strategies, or other reasons not directly related to the fund's activities.
The sale was executed by Mark L. Winget, signing under Power of Attorney for Moschner, as indicated in the SEC filing. This legal instrument allows designated individuals to act on behalf of the reporting owner in fulfilling necessary legal and regulatory requirements, such as the execution and filing of relevant forms with the SEC.
The Nuveen Floating Rate Income Fund trades on the New York Stock Exchange under the ticker symbol JFR. The fund's performance and the trading activities of its trustees are of interest to investors who seek to understand the dynamics of the fund and its potential impact on their investment portfolios.
InvestingPro Insights
Adding to the analysis of Albin F. Moschner's recent sale of Nuveen Floating Rate Income Fund (NYSE:JFR) shares, InvestingPro data provides additional context for investors considering the fund's performance and outlook.
JFR currently boasts a substantial dividend yield of 11.59%, with its most recent ex-dividend date on September 13, 2024. This aligns with one of the InvestingPro Tips, which notes that JFR "pays a significant dividend to shareholders." Moreover, the fund has maintained dividend payments for 21 consecutive years, demonstrating a strong commitment to providing consistent income to its investors.
The fund's recent performance has been positive, with a year-to-date price total return of 16.9% and a one-year return of 23.36%. This upward trajectory is reflected in another InvestingPro Tip, which indicates that JFR is "trading near 52-week high." In fact, the current price is 97.46% of its 52-week high, suggesting strong investor confidence.
For those interested in the fund's volatility, InvestingPro Tips reveal that JFR "generally trades with low price volatility," which may be attractive to risk-averse investors seeking stable income streams.
It's worth noting that InvestingPro offers 7 additional tips for JFR, providing a more comprehensive analysis for investors looking to delve deeper into the fund's prospects and potential risks.
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