Pioneer Floating Rate Fund, Inc. (NYSE:PHD) Sees Significant Drop in Short Interest

Pioneer Floating Rate Fund, Inc. (NYSE:PHD) was the recipient of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 30,700 shares, a decline of 73.9% from the February 28th total of 117,500 shares. Based on an average trading volume of 66,200 shares, the short-interest ratio is currently 0.5 days.

Institutional Investors Weigh In On Pioneer Floating Rate Fund

Several large investors have recently made changes to their positions in the stock. Invesco Ltd. lifted its position in Pioneer Floating Rate Fund by 8.1% in the 4th quarter. Invesco Ltd. now owns 346,491 shares of the investment management company’s stock valued at $3,354,000 after acquiring an additional 25,857 shares in the last quarter. Clear Creek Financial Management LLC grew its holdings in shares of Pioneer Floating Rate Fund by 4.0% during the fourth quarter. Clear Creek Financial Management LLC now owns 143,069 shares of the investment management company’s stock worth $1,385,000 after buying an additional 5,542 shares in the last quarter. Shaker Financial Services LLC lifted its stake in Pioneer Floating Rate Fund by 13.4% in the 4th quarter. Shaker Financial Services LLC now owns 107,446 shares of the investment management company’s stock valued at $1,040,000 after acquiring an additional 12,658 shares in the last quarter. Virtus ETF Advisers LLC lifted its stake in Pioneer Floating Rate Fund by 20.6% in the 4th quarter. Virtus ETF Advisers LLC now owns 84,736 shares of the investment management company’s stock valued at $820,000 after acquiring an additional 14,492 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Pioneer Floating Rate Fund during the 4th quarter worth approximately $209,000.

Pioneer Floating Rate Fund Trading Up 0.4 %

Shares of NYSE PHD traded up $0.04 during mid-day trading on Friday, reaching $9.47. 62,346 shares of the company’s stock were exchanged, compared to its average volume of 57,907. Pioneer Floating Rate Fund has a twelve month low of $9.25 and a twelve month high of $10.05. The business has a fifty day simple moving average of $9.59 and a 200 day simple moving average of $9.74.

Pioneer Floating Rate Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.075 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 9.51%. The ex-dividend date is Friday, March 14th.

Pioneer Floating Rate Fund Company Profile

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.