Pioneer Floating Rate Fund, Inc. Announces Monthly Dividend of $0.06 (NYSE:PHD)

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 given 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 yield of 7.75%. The ex-dividend date of this dividend is Wednesday, August 17th.

Pioneer Floating Rate Fund Price Performance

Pioneer Floating Rate Fund stock traded down $0.04 during mid-day trading on Friday, reaching $9.29. 14,369 shares of the company were exchanged, compared to its average volume of 53,089. The company has a fifty day simple moving average of $9.05 and a 200-day simple moving average of $9.99. Pioneer Floating Rate Fund has a 12 month low of $8.62 and a 12 month high of $12.21.

Institutional Investors Weigh In On Pioneer Floating Rate Fund

Hedge funds have recently modified their holdings of the company. Advisor Group Holdings Inc. boosted its holdings in shares of Pioneer Floating Rate Fund by 15.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 26,817 shares of the investment management company’s stock valued at $281,000 after acquiring an additional 3,544 shares in the last quarter. Royal Bank of Canada raised its position in shares of Pioneer Floating Rate Fund by 14.5% in the 1st quarter. Royal Bank of Canada now owns 94,515 shares of the investment management company’s stock worth $990,000 after acquiring an additional 12,001 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Pioneer Floating Rate Fund by 7.1% in the 1st quarter. Bank of America Corp DE now owns 231,577 shares of the investment management company’s stock worth $2,425,000 after acquiring an additional 15,301 shares in the last quarter.

Pioneer Floating Rate Fund Company Profile

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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.