Pioneer Floating Rate Fund, Inc. (NYSE:PHD) sees sharp decline in short-term interest


Pioneer Floating Rate Fund, Inc. (NYSE:PHD – Get Rating) was the target of a significant drop in short-term interest rates in April. As of April 15, there was short interest totaling 7,100 shares, down 33.0% from the March 31 total of 10,600 shares. Based on an average daily volume of 43,800 shares, the short interest ratio is currently 0.2 days.

Institutional investors have recently changed their positions in the company. Wedbush Securities Inc. increased its stake in Pioneer Floating Rate Fund by 18.8% in the fourth quarter. Wedbush Securities Inc. now owns 15,808 shares of the investment management company valued at $184,000 after acquiring an additional 2,500 shares during the period. Clear Creek Financial Management LLC increased its position in shares of the Pioneer Floating Rate Fund by 3.4% during the fourth quarter. Clear Creek Financial Management LLC now owns 141,248 shares of the investment management firm valued at $1,640,000 after buying 4,583 additional shares in the last quarter. Guggenheim Capital LLC increased its position in shares of the Pioneer Floating Rate Fund by 11.6% during the third quarter. Guggenheim Capital LLC now owns 564,182 shares of the investment management company valued at $6,482,000 after purchasing an additional 58,599 shares in the last quarter. Advisor Group Holdings Inc. increased its position in shares of the Pioneer Floating Rate Fund by 35.5% during the third quarter. Advisor Group Holdings Inc. now owns 21,968 shares of the investment management company valued at $252,000 after buying an additional 5,760 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of the Pioneer Floating Rate Fund by 109.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 114,342 shares of the investment management company valued at $1,328,000 after buying an additional 59,719 shares in the last quarter.

NYSE PHD opened at $9.96 on Friday. Pioneer Floating Rate Fund has a one-year low of $9.95 and a one-year high of $12.21. The company has a 50-day simple moving average of $10.45 and a 200-day simple moving average of $11.29.

The company also recently disclosed a monthly dividend, which was paid on Friday, April 29. Shareholders of record on Tuesday, April 19 received a dividend of $0.0575. The ex-dividend date was Monday, April 18. This represents a dividend of $0.69 on an annualized basis and a yield of 6.93%.

About Pioneer Floating Rate Fund (Get a rating)

Pioneer Floating Rate Fund, Inc is a fixed-income, fixed-income mutual fund launched and managed by Pioneer Investment Management, Inc. It invests in the United States fixed-income securities markets. The fund invests primarily in senior secured floating rate loans. He compares the performance of his portfolio to that of Barclays US

Read more



Receive daily news and reviews for the Pioneer Floating Rate Fund – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Pioneer Floating Rate Fund and related companies with MarketBeat.com’s free daily email newsletter.

Comments are closed.