What Symbol Represents Nuveen Floating Rate Income Fund?

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What Symbol Represents Nuveen Floating Rate Income Fund?

Nuveen Floating Rate Income Fund (JFR) is a closed-end fund that invests primarily in senior secured floating-rate loans. These loans are typically made to non-investment-grade borrowers and offer higher yields than investment-grade bonds, but also higher credit risk. JFR seeks to provide a high level of current income and preservation of capital, with a secondary objective of capital appreciation. As of August 31, 2021, JFR had total net assets of $1.2 billion and a distribution rate of 5.59%, paid monthly.

What Is a Closed-End Fund?

A closed-end fund is a type of investment company that issues a fixed number of shares through an initial public offering (IPO) and then trades on a stock exchange like a stock. Unlike open-end funds, which issue and redeem shares at the net asset value (NAV) of the underlying securities, closed-end funds do not typically issue new shares after the IPO or redeem shares from investors. Instead, investors buy and sell shares on the secondary market, where the price may be higher or lower than the NAV, depending on supply and demand. Closed-end funds may use leverage, such as borrowing money or issuing preferred shares, to enhance returns but also increase risks. Closed-end funds may offer higher yields than open-end funds, but also higher fees and volatility.

How Does JFR Work?

JFR invests primarily in senior secured floating-rate loans, which are loans that have a first lien on the assets of the borrower and pay interest rates that adjust periodically based on a benchmark, such as the London Interbank Offered Rate (LIBOR). These loans are typically made to corporations that have below-investment-grade credit ratings, which means they may have a higher risk of default than investment-grade bonds. However, the senior secured status of the loans may reduce the risk of loss in case of default. JFR may also invest in other types of debt securities, such as high-yield bonds, and use derivative instruments, such as interest rate swaps, to manage risk or enhance returns. JFR's portfolio is managed by Nuveen Fund Advisors, LLC, a subsidiary of Nuveen, LLC, which is part of TIAA-CREF, one of the largest financial services organizations in the world.

What Is JFR's Symbol?

JFR's symbol is JFR, which stands for Nuveen Floating Rate Income Fund. The symbol is used to identify JFR on stock exchanges, such as the New York Stock Exchange (NYSE), where JFR is listed. Investors can use the symbol to buy or sell shares of JFR through a brokerage account or an online trading platform. The symbol may also be used to track JFR's performance on financial websites or mobile apps that provide market data and news.

How Can Investors Evaluate JFR?

Investors who are interested in JFR should consider several factors before investing, such as the fund's investment objectives, risks, fees, performance, and tax implications. Investors should read JFR's prospectus, which is a legal document that discloses important information about the fund, such as its investment strategy, risks, fees, and past performance. Investors should also review JFR's annual and semiannual reports, which provide updates on the fund's financial condition and investment results. Investors may compare JFR's performance to a benchmark, such as the S&P/LSTA U.S. Leveraged Loan 100 Index, which tracks the performance of the largest institutional leveraged loans. Investors may also consider the fund's distribution rate, which is the amount of income paid to investors as a percentage of the fund's NAV, and the fund's total return, which includes both capital gains and income. Finally, investors should consult a financial advisor or a tax professional to understand the tax implications of investing in JFR, such as the treatment of dividends, capital gains, and losses.

Conclusion

Nuveen Floating Rate Income Fund (JFR) is a closed-end fund that invests primarily in senior secured floating-rate loans, offering a high level of current income and preservation of capital. JFR's symbol is JFR, which stands for Nuveen Floating Rate Income Fund, and is used to identify JFR on stock exchanges. Investors should evaluate JFR's investment objectives, risks, fees, performance, and tax implications before investing. Closed-end funds may offer higher yields than open-end funds, but also higher fees and volatility, and may not be suitable for all investors.