by Sam Collins | June 11, 2013 1:34 am
Nuveen Floating Rate Income Opportunity Fund (JRO) — This closed-end fund is designed to adjust its dividend as interest rates change. Thus, it could be an ideal hedge or investment in a period when the Federal Reserve backs away from supporting a low-interest rate scheme.
The fund invests at least 80% of its managed assets in adjustable-rate loans. It currently pays a monthly dividend that equals $0.876 annualized, for a 6.7% yield.
JRO is in a bull market with support at its 200-day moving average and bullish support line. Buy this fund at the market in anticipation of higher interest rates.
Source URL: http://investorplace.com/2013/06/trade-of-the-day-nuveen-floating-rate-income-opportunity-fund-jro/
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