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

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.

New york--(business wire)--the boards of trustees 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 (nsye: jfr) have approved a proposal to merge the funds. the proposed mergers, if approved by shareholders, would combine each of nsl, jro, and jsd into jfr. the mergers are intended to create a larger fund with lower net operating expenses, enhanced earnings potential, and increased trading volume on the exchange for common shares. the proposed mergers of the funds are subject to certain conditions, including necessary approval by the funds’ shareholders...

New york--(business wire)--several nuveen closed-end funds today announced that the board of trustees of the funds has approved the adoption of a level distribution policy. under the new policy, the funds are increasing their current distribution rates as outlined below. the following dates apply to today’s declaration: record date march 15, 2021 ex-dividend date march 12, 2021 payable date april 1, 2021 ticker exchange fund name monthly distribution per share amount change from previous month market distribution rate nav distribution rate jgh nyse nuveen global high income fund 0.1130 +0.0275 8.92% 7.98% jfr nyse nuveen floating rate income fund 0.0580 +0.0095 7.46% 6.74% jro nyse nuveen floating rate income opportunity fund 0...

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.

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 is set to merge four of its floating rate loan funds: Nuveen Senior Income Fund, Nuveen Floating Rate Income Opportunity Fund, Nuveen Short Duration Credit Opportunities Fund, and Nuveen Floating Rate Income Fund. This consolidation is seen as beneficial for both Nuveen and shareholders, as it will allow the fund manager to have a unique offering in the leveraged loan space and could result in tighter discounts to NAV. The article discusses potential merger arbitrage opportunities, and provides a roadmap for JRO shareholders in light of the upcoming merger.

Only funds with yields over 8%, coverage higher than 90%, and trading at a discount are considered. Top lists of discount, yield, DxY, and DxYxZ are given. The top DxY funds are HFRO, JSD, and JRO.

As the Fed looks to continue to raise interest rates in 2023, floating rate funds like JRO stand to benefit and offer well-covered high yield income. At a discount to NAV of more than -10% and a monthly distribution of $0.074 yielding 11%, JRO is a Buy.

JRO offers income investors a level monthly distribution that yields 10.5% annually based on the recently raised distribution of $0.074. The JRO fund trades at a discount to NAV and benefits from rising interest rates due to its senior secured loans that are mostly floating rate.

FLOT: This Floating-Rate ETF Has Limited Appeal

As we enter the fourth quarter of 2021, we are inching closer to the eventual rate hikes from the Fed. We've been continuing to monitor the senior loan fund space to find some opportunities worth exploring.

JFR - Leveraged Loan CEF, 6.9% Yield

JRO is a closed end fund investing in senior floating rate loans. The fund has historically robust Sharpe and standard deviation metrics but utilizes significant leverage.