Short Interest in Pioneer Floating Rate Fund, Inc. (NYSE:PHD) Decreases By 16.9%

Pioneer Floating Rate Fund, Inc. (NYSE:PHDGet Free Report) was the recipient of a significant drop in short interest during the month of February. As of February 29th, there was short interest totalling 25,600 shares, a drop of 16.9% from the February 14th total of 30,800 shares. Based on an average daily trading volume, of 67,900 shares, the short-interest ratio is presently 0.4 days.

Pioneer Floating Rate Fund Stock Performance

NYSE PHD traded down $0.03 on Friday, reaching $9.65. The company had a trading volume of 71,459 shares, compared to its average volume of 68,718. The firm’s 50 day moving average price is $9.52 and its 200 day moving average price is $9.18. Pioneer Floating Rate Fund has a 12 month low of $8.30 and a 12 month high of $9.81.

Pioneer Floating Rate Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 15th will be paid a $0.0925 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 11.50%. The ex-dividend date is Thursday, March 14th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Clough Capital Partners L P raised its stake in Pioneer Floating Rate Fund by 24.8% during the third quarter. Clough Capital Partners L P now owns 243,016 shares of the investment management company’s stock valued at $2,190,000 after purchasing an additional 48,300 shares in the last quarter. Lake Street Financial LLC raised its position in shares of Pioneer Floating Rate Fund by 3.7% during the 3rd quarter. Lake Street Financial LLC now owns 526,750 shares of the investment management company’s stock valued at $4,751,000 after buying an additional 18,700 shares in the last quarter. Quarry LP bought a new position in shares of Pioneer Floating Rate Fund in the 2nd quarter valued at about $320,000. Virtus ETF Advisers LLC lifted its holdings in shares of Pioneer Floating Rate Fund by 83.5% in the 3rd quarter. Virtus ETF Advisers LLC now owns 67,774 shares of the investment management company’s stock valued at $611,000 after acquiring an additional 30,847 shares during the last quarter. Finally, Sit Investment Associates Inc. increased its stake in Pioneer Floating Rate Fund by 10.8% during the second quarter. Sit Investment Associates Inc. now owns 102,797 shares of the investment management company’s stock worth $892,000 after acquiring an additional 10,000 shares during the last quarter.

Pioneer Floating Rate Fund Company Profile

(Get Free Report)

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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