Pioneer Floating Rate Fund, Inc. (NYSE:PHD – Get Rating) declared a monthly dividend on Tuesday, December 20th, Wall Street Journal reports. Investors of record on Friday, December 30th will be paid a dividend of 0.085 per share by the investment management company on Monday, January 9th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 11.85%. The ex-dividend date is Thursday, December 29th. This is a boost from Pioneer Floating Rate Fund's previous monthly dividend of $0.08.
Pioneer Floating Rate Fund has raised its dividend payment by an average of 3.2% annually over the last three years and has increased its dividend annually for the last 1 consecutive years.
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Pioneer Floating Rate Fund Stock Performance
Shares of PHD stock traded up $0.09 on Tuesday, reaching $8.61. 53,154 shares of the stock were exchanged, compared to its average volume of 50,963. The business's 50 day moving average price is $8.71 and its 200 day moving average price is $8.94. Pioneer Floating Rate Fund has a twelve month low of $8.46 and a twelve month high of $12.12.
Hedge Funds Weigh In On Pioneer Floating Rate Fund
Large investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC boosted its stake in shares of Pioneer Floating Rate Fund by 15.4% during the third quarter. Commonwealth Equity Services LLC now owns 16,159 shares of the investment management company's stock worth $139,000 after buying an additional 2,159 shares during the period. UBS Group AG boosted its stake in shares of Pioneer Floating Rate Fund by 7.8% during the third quarter. UBS Group AG now owns 51,636 shares of the investment management company's stock worth $445,000 after buying an additional 3,746 shares during the period. Bank of America Corp DE boosted its stake in shares of Pioneer Floating Rate Fund by 7.1% during the first quarter. Bank of America Corp DE now owns 231,577 shares of the investment management company's stock worth $2,425,000 after buying an additional 15,301 shares during the period. Royal Bank of Canada raised its holdings in Pioneer Floating Rate Fund by 14.5% during the first quarter. Royal Bank of Canada now owns 94,515 shares of the investment management company's stock worth $990,000 after purchasing an additional 12,001 shares in the last quarter. Finally, Advisor Group Holdings Inc. raised its holdings in Pioneer Floating Rate Fund by 15.2% during the first quarter. Advisor Group Holdings Inc. now owns 26,817 shares of the investment management company's stock worth $281,000 after purchasing an additional 3,544 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.
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