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Uptrend Call Working As Nuveen Floating Rate Income Opportunity Fund Stock Rises 19.9% (JRO)

By Shiri Gupta

SmarTrend identified an Uptrend for Nuveen Floating Rate Income Opportunity Fund (NYSE:JRO) on March 16th, 2016 at $9.83. In approximately 13 months, Nuveen Floating Rate Income Opportunity Fund has returned 19.93% as of today's recent price of $11.79.

In the past 52 weeks, Nuveen Floating Rate Income Opportunity Fund share prices have been bracketed by a low of $7.96 and a high of $12.93 and are now at $11.79, 48% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has slid 0.2%.

Nuveen Floating Rate Income Opportunity Fund is diversified, closed-end management investment company. The Fund's objective is to achieve a high level of current income. The Fund invests at least 80% of its Managed Assets in adjustable rate loans, primarily secured senior loans.

SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any shifts in the trajectory of Nuveen Floating Rate Income Opportunity Fund shares.

Log in and add Nuveen Floating Rate Income Opportunity Fund (JRO) to your watchlist today so you can receive a real-time alert when the shares are about to change trend.

Keywords: spotlights nuveen floating rate income opportunity fund

Ticker(s): JRO