Nuveen Floating Rate Income Fund

Nuveen Floating Rate Income Fund is a closed-end investment fund. Its investment objective is to achieve a level of current income by investing in adjustable rate secured and unsecured senior loans and other debt instruments. The company was founded on March 25, 2004 and is headquartered in Chicago, IL.

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The Nuveen Floating Rate Income Fund offers an attractive 11.50% yield, but is unlikely to maintain this due to expected Federal Reserve interest rate cuts. The fund's reliance on floating-rate senior loans means its income will decrease as interest rates decline, making its current distribution unsustainable. The fund failed to cover its distribution fully out of NII in the most recent year.

JFR: Interest Rate Cuts Will Pressure Yield, There Are Better Plays (Downgrade)

Floating rate funds like JFR offer decent distribution yields and should continue to do so despite expected rate cuts, as rates aren't expected to go back to zero. JFR remains relatively attractive compared to peers in the closed-end fund senior loan space, though bargain valuations are tougher to come by in this space. With a high amount of leverage, there is relatively more risk to be cognizant of here, but that can come with greater reward as well.

JFR: Floating Rate Exposure Can Still Have A Place In A Portfolio

Nuveen Floating Rate Income Fund focuses on high-yielding fixed income securities, which enables the Fund to offer ~11% yield. A major driver for the double-digit yield is a significant concentration in below investment grade securities. Plus, most of JFR's investments are in floating rate instruments and the FOMC dot plot indicates a potential risk of yield compression.

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NEW YORK--(BUSINESS WIRE)--Several Nuveen closed-end funds have declared distributions. These funds represent investment strategies for investors seeking diversified sources of cash flow to prepare for and sustain their retirement income needs. For further information regarding fund distributions, including earnings, undistributed net investment income, and notices, please visit www.nuveen.com/cef. Additionally, several funds have announced distribution increases of up to 71%. The distribution.

Nuveen Closed-End Funds Declare Distributions

The Nuveen Floating Rate Income Fund offers a significantly higher yield than most fixed-rate bond funds, currently at 11.68%. The fund primarily invests in floating-rate securities that deliver a higher level of income when short-term rates rise, while maintaining a relatively stable price. The fund's high yield may not be enough to keep up with inflation after paying taxes on distributions, so holding it in a tax-advantaged account is recommended.

JFR: Could Be A Good Asset To Add To A Retirement Account Today

Nuveen Floating Rate Income Fund invests in leveraged loans. We rated JFR as "Buy" previously. JFR has delivered a total return of over 19% since its merger with other Nuveen leveraged loan CEFs. The fund is overweight in single-B credits and has a low allocation to riskier CCC-s.

JFR: Moving This Leveraged Loan Fund To Hold On The Back Of Tight Spreads (Rating Downgrade)

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Nuveen Floating Rate Income Fund is a closed-end fund that primarily invests in floating-rate, senior loans. The fund has a consistent dividend history, with fluctuations based on interest rate trends. JFR has a diversified portfolio, with a concentration in the Hotels, Restaurants, and Leisure industry, which poses a risk in tough economic times.

Nuveen Floating Rate Income: A Discount Means Safety

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NEW YORK--(BUSINESS WIRE)--Nuveen Closed-End Funds today announced that the Board of Trustees of the Funds has approved the regular monthly and quarterly distributions. In addition, the Board of Trustees has approved updated distribution polices described below under “Monthly & Quarterly Distributions” for The Nuveen Preferred & Income Opportunities Fund (NYSE: JPC), Nuveen Preferred and Income Term Fund (NYSE: JPI), Nuveen Variable Rate Preferred & Income Fund (NYSE: NPFD), Nuveen.

Nuveen Closed-End Funds Declare Distributions and Updates to Distribution Policies

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NEW YORK--(BUSINESS WIRE)--Saba Capital Management, L.P. (collectively with certain of its affiliates, “Saba” or “we”) today commented on the outcome of the lawsuit brought in the United States Court of Appeals for the Second Circuit (the “Court”) by five closed-end funds advised by Nuveen Fund Advisors, LLC and Nuveen Asset Management, LLC (collectively, “Nuveen”) – the Nuveen Floating Rate Income Fund (NYSE: JFR), Nuveen Floating Rate Income Opportunity Fund (NYSE: JRO), Nuveen Short Duration.

U.S. Court of Appeals for the Second Circuit Upholds that Nuveen-Advised Closed-End Funds Violated the Investment Company Act of 1940

JFR merged with three of its sister funds earlier this year, which were all focused on floating rates or holding a short-duration fixed-income portfolio. This combination made JFR the largest floating-rate focused fund in the closed-end fund space, larger hasn't meant necessarily better though. The fund's discount appears attractive and the distribution rate is fully covered; however, its performance has been a bit lackluster relative to some peers.

JFR: Attractive Discount And Fully Covered ~12.7% Distribution Yield

The Nuveen Floating Rate Income Fund offers a high level of income with a current yield of 12.72% and increasing distributions. The fund has outperformed traditional fixed-rate bond indices YTD and has a positive total return despite a price decline. The fund's focus on floating-rate securities make it attractive during periods of rising interest rates, which could very easily be the case for a while due to US fiscal policy.

JFR: A Good Fund For High Rates Or A Pair Trade

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Interest rates are likely to remain elevated due to the strong U.S. economy, despite inflation concerns. The U.S. debt has reached a record high, and fears of a government shutdown are exacerbating market concerns. Investing in CEFs that hold floating rate senior loans can provide a high yield income stream that benefits from rising interest rates.

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Taxable closed-end fund discounts have narrowed, reducing their attractiveness, while credit spreads have tightened, producing returns in some areas of the CEF market. Municipal CEFs remain exceptionally cheap, with discounts wider than 99% of historical observations. The risk-reward in the taxable bond CEF space is on the downside, while the upside potential in municipal CEFs is significant, but dependent on a shift in Fed policy and inflation.

CEF Report August 2023: Taxables Get Bought And Are Not Very Compelling, Munis Look Best

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Closed-end funds offer high income, diversification, and market-matching total returns for income-focused investors. Five CEFs with solid track records, high distributions, and attractive discounts are highlighted in this monthly series. The selected CEFs offer an average distribution rate of over 9%, have strong historical performance, and trade at an average discount of -6.5% to NAV.

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20 out of 22 CEF sectors positive on price. Nuveen senior loan funds merger is complete. The combined JFR boosted its distribution by 14%.

Weekly Closed-End Fund Roundup: Nuveen Senior Loan Funds Merger Complete (July 30, 2023)

Nuveen has completed the merger of three funds into the Nuveen Floating Rate Income Fund, making it the largest listed senior loan closed-end fund. The merger is expected to bring operational savings and improve fund performance over time. JFR has increased its distribution rate by 14%, resulting in a current 30-day SEC yield above 12%.

JFR: Merger Completed, Appealing Fund With A 12% Yield

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NEW YORK--(BUSINESS WIRE)--The mergers of Nuveen Senior Income Fund (NYSE: NSL), Nuveen Floating Rate Income Opportunity Fund (NYSE: JRO), and Nuveen Short Duration Credit Opportunities Fund (NYSE: JSD) into Nuveen Floating Rate Income Fund (NYSE: JFR) were successfully completed prior to the opening of the New York Stock Exchange on July 31, 2023. The fund's newly consolidated portfolio contains approximately $2 billion in investments—the largest among listed senior loan closed-end funds. Thro.

Nuveen Floating Rate Income Fund Announces Completion of Mergers and Distribution Increase

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We review CEF market valuation and performance through the second week of July and highlight recent market action. CEFs had a good week overall as NAVs gained, however, discounts remain sluggish. The net income profile of some CEFs has turned negative, owing to a high cost of leverage.

CEF Weekly Review: (Some) CEF Net Income Turns Negative

Nuveen announced the merger of its senior loan funds: NSL, JRO, JSD and JFR. The merger is slated to close July 31, 2023. Currently, arbitrage opportunities are slim.

Nuveen Senior Loan CEFs To Merge

NEW YORK--(BUSINESS WIRE)--Common and preferred shareholders of Nuveen Senior Income Fund (NYSE: NSL), Nuveen Floating Rate Income Opportunity Fund (NYSE: JRO), Nuveen Short Duration Credit Opportunities Fund (NYSE: JSD), and Nuveen Floating Rate Income Fund (NYSE: JFR) have approved a proposal to merge the funds. The mergers will combine each of NSL, JRO, and JSD into JFR. Subject to the satisfaction of certain customary closing conditions, the mergers are expected to become effective before t.

Nuveen Senior Loan Closed-End Funds Announce Shareholder Approval of Proposed Mergers

Investors desperately need income to maintain their lifestyles given today's incredibly high inflation rate. JFR invests in a portfolio of floating-rate securities that should hold their value more than traditional bonds during rising-rate environments.

JFR: Floating Rates And Attractive Price

Floating-rate fixed-income securities should hold their value better than traditional bonds during periods of rising interest rates. Nuveen Floating Rate Income Fund invests primarily in a portfolio of these securities, so it should be a reasonably good choice for income in today's environment.

JFR: The Thesis Is Holding True For This 10%-Yielding CEF

News for Nuveen Floating Rate Income Fund ETF (JFR)