Pioneer Floating Rate Fund, Inc. (NYSE:PHD – Get Rating) announced a monthly dividend on Thursday, August 4th, Zacks reports. Shareholders of record on Thursday, August 18th will be paid a dividend of 0.06 per share by the investment management company on Wednesday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 7.75%. The ex-dividend date is Wednesday, August 17th.
Pioneer Floating Rate Fund Stock Down 0.4 %
Pioneer Floating Rate Fund stock traded down $0.04 during trading hours on Friday, hitting $9.29. 14,369 shares of the stock traded hands, compared to its average volume of 53,089. Pioneer Floating Rate Fund has a 1 year low of $8.62 and a 1 year high of $12.21. The firm’s 50 day moving average price is $9.05 and its 200-day moving average price is $9.99.
Institutional Investors Weigh In On Pioneer Floating Rate Fund
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. boosted its holdings in Pioneer Floating Rate Fund by 15.2% in the first quarter. Advisor Group Holdings Inc. now owns 26,817 shares of the investment management company’s stock valued at $281,000 after purchasing an additional 3,544 shares during the period. Royal Bank of Canada raised its stake in Pioneer Floating Rate Fund by 14.5% in the first quarter. Royal Bank of Canada now owns 94,515 shares of the investment management company’s stock valued at $990,000 after buying an additional 12,001 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Pioneer Floating Rate Fund by 7.1% in the first quarter. Bank of America Corp DE now owns 231,577 shares of the investment management company’s stock valued at $2,425,000 after buying an additional 15,301 shares in the last quarter.
About Pioneer Floating Rate Fund
Pioneer Floating Rate Fund, Inc is closed ended fixed income mutual fund launched and managed by Pioneer Investment Management, Inc It invests in the fixed income markets of the United States. The fund primarily invests in senior secured floating-rate loans. It benchmarks the performance of its portfolio against the Barclays U.S.
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