JFR Stock Summary and Trading Ideas (Nuveen Floating Rate Income Co | NYSE:JFR)

The fund's investment objective is to achieve a high level of current income by investing in adjustable rate secured and unsecured senior loans and other debt instruments. The fund invests at least 80% of its managed assets in adjustable rate loans, primarily senior loans, though the loans may include unsecured senior loans and secured and unsecured subordinated loans. At least 65% of the fund’s managed assets must include adjustable rate senior loans that are secured by specific collateral. The fund uses leverage.

Nuveen Floating Rate Income Co trades on the NYSE stock market under the symbol JFR.

As of May 13, 2024, JFR stock price declined to $8.73 with 158,858 million shares trading.

JFR has a beta of 0.27, meaning it tends to be less sensitive to market movements. JFR has a correlation of 0.12 to the broad based SPY ETF.

JFR has a market cap of $1.17 billion. This is considered a Small Cap stock.

In the last 3 years, JFR stock traded as high as $10.65 and as low as $7.61.

JFR has underperformed the market in the last year with a price return of +20.7% while the SPY ETF gained +27.9%. However, in the short term, JFR had mixed performance relative to the market. It has outperformed in the last 3 months, returning +5.2% vs +4.3% return in SPY. But in the last 2 weeks, JFR shares have been beat by the market, returning +1.6% compared to an SPY return of +2.6%.

JFR support price is $8.68 and resistance is $8.80 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that JFR stock will trade within this expected range on the day.