JFR: Interest Rate Cuts Will Pressure Yield, There Are Better Plays (Downgrade) [Seeking Alpha]
Nuveen Floating Rate Income Fund (JFR)
US:NYSE Investor Relations:
nuveen.com/cef/product/overview.aspx?fundcode=jfr
Company Research
Source: Seeking Alpha
Investing Group Leader Follow Play 26min Summary 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. The fund's share price increase over the past five months was not supported by the portfolio, which strains its valuation. I recommend selling this fund now, as better opportunities exist with double-digit yields and the potential for higher real returns amid expected interest rate cuts. Looking for a helping hand in the market? Members of Energy Profits in Dividends get exclusive ideas and guidance to navigate any climate. Learn More » Anthony Bradshaw The Nuveen Floating Rate Income Fund NYSE: JFR ) is a closed-end fund,
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Sec Filings
- 10/11/24 - Form N-CEN
- 10/4/24 - Form N-CSR
- 10/2/24 - Form 4
- JFR's page on the SEC website