JFR: Moving This Leveraged Loan Fund To Hold On The Back Of Tight Spreads (Rating 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
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. Corporate credit spreads are currently very tight, indicating that it may not be an attractive entry point, but the fund's high dividend yield makes it a hold. The CEF has an 11.6% dividend yield, a 37% leverage ratio, and a 6.7% standard deviation as measured on a 3-year look-back. Thesis Ten months ago, we wrote an article on the Nuveen Floating Rate Income Fund ( NYSE: JFR ) and its absorption of other Nuveen leveraged loan CEFs. Our article talked about the benefits for the Recommended For You About JFR Ticker More on JFR Related Stocks Trending Analysis Trending News
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JFR
Sec Filings
- 9/25/24 - Form NPORT-P
- 8/29/24 - Form N-PX
- JFR's page on the SEC website