Pioneer Floating Rate Trust (NYSE:PHD) Major Shareholder Purchases $324,689.56 in Stock

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Pioneer Floating Rate Trust (NYSE:PHD) major shareholder Saba Capital Management, L.P. acquired 29,068 shares of the stock in a transaction dated Thursday, February 13th. The shares were bought at an average price of $11.17 per share, for a total transaction of $324,689.56. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

  • On Monday, February 10th, Saba Capital Management, L.P. acquired 13,326 shares of Pioneer Floating Rate Trust stock. The shares were bought at an average price of $11.08 per share, for a total transaction of $147,652.08.
  • On Friday, January 24th, Saba Capital Management, L.P. acquired 6,066 shares of Pioneer Floating Rate Trust stock. The shares were bought at an average price of $11.05 per share, for a total transaction of $67,029.30.
  • On Wednesday, January 22nd, Saba Capital Management, L.P. acquired 5,805 shares of Pioneer Floating Rate Trust stock. The shares were bought at an average price of $11.06 per share, for a total transaction of $64,203.30.
  • On Thursday, January 9th, Saba Capital Management, L.P. acquired 7,931 shares of Pioneer Floating Rate Trust stock. The shares were bought at an average price of $10.95 per share, for a total transaction of $86,844.45.
  • On Tuesday, January 7th, Saba Capital Management, L.P. acquired 14,757 shares of Pioneer Floating Rate Trust stock. The shares were bought at an average price of $10.86 per share, for a total transaction of $160,261.02.
  • On Friday, December 20th, Saba Capital Management, L.P. acquired 1,104 shares of Pioneer Floating Rate Trust stock. The shares were bought at an average price of $10.89 per share, for a total transaction of $12,022.56.
  • On Wednesday, December 18th, Saba Capital Management, L.P. acquired 17,727 shares of Pioneer Floating Rate Trust stock. The shares were bought at an average price of $10.80 per share, for a total transaction of $191,451.60.
  • On Thursday, December 12th, Saba Capital Management, L.P. acquired 13,584 shares of Pioneer Floating Rate Trust stock. The shares were bought at an average price of $10.64 per share, for a total transaction of $144,533.76.
  • On Wednesday, December 4th, Saba Capital Management, L.P. acquired 9,768 shares of Pioneer Floating Rate Trust stock. The shares were bought at an average price of $10.61 per share, for a total transaction of $103,638.48.

Pioneer Floating Rate Trust stock opened at $11.17 on Friday. The firm’s fifty day moving average price is $10.97 and its 200-day moving average price is $10.63. Pioneer Floating Rate Trust has a fifty-two week low of $10.27 and a fifty-two week high of $11.15.

The firm also recently announced a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.063 per share. This represents a $0.76 annualized dividend and a dividend yield of 6.77%. The ex-dividend date is Tuesday, February 18th.

Hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC bought a new position in shares of Pioneer Floating Rate Trust during the 3rd quarter valued at $79,000. Doliver Advisors LP bought a new position in shares of Pioneer Floating Rate Trust during the 3rd quarter valued at $115,000. Shepherd Kaplan Krochuk LLC bought a new position in shares of Pioneer Floating Rate Trust during the 4th quarter valued at $147,000. UBS Group AG grew its holdings in shares of Pioneer Floating Rate Trust by 12.2% during the 4th quarter. UBS Group AG now owns 13,998 shares of the investment management company’s stock valued at $154,000 after purchasing an additional 1,523 shares during the last quarter. Finally, Round Table Services LLC grew its holdings in shares of Pioneer Floating Rate Trust by 8.4% during the 3rd quarter. Round Table Services LLC now owns 15,489 shares of the investment management company’s stock valued at $163,000 after purchasing an additional 1,200 shares during the last quarter.

About Pioneer Floating Rate Trust

Pioneer Floating Rate Trust 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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