Nuveen Floating Rate Price, Forecast, Insider, Ratings, Fundamentals & Signals

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.

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.

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.

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.

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FRA: Still A Good Way To Earn An Attractive 11% Yield Today (Rating Upgrade)

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.

NHS: This Fund Is Looking Very Expensive Given Current Fundamentals (Rating Downgrade)

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.

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.

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.

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.

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.

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