Nuveen Floating Rate Income Fund Class A (NFRAX)
Nuveen Floating Rate Income Fund Class A operates in the Asset Management - Income industry of the Financial Services sector, headquartered in Chicago, IL, US. The stock last traded at $17.67, down 0.06% on the session, giving a market capitalisation of $1.59B. On trailing twelve-month figures it carries a trailing P/E of -5.68, a net margin of -349.7%. Its beta of 0.06 implies it has historically moved less than the broad market.
The fund primarily seeks to generate a high level of current income, with capital appreciation being a secondary objective. Under typical market conditions, it commits at least 80% of its net assets, including any funds borrowed for investment, to floating rate securities. These variable-rate investments encompass floating rate loans, other floating rate debt instruments from corporations and the U.S. government, money market securities, and shares of money market and short-term bond funds.
Nuveen Floating Rate Income Fund Class A is most often compared with the following Financial Services names: