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

Pioneer Floating Rate Fund, Inc. (NYSE:PHD – Get Rating) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 12,600 shares, a growth of 26.0% from the March 31st total of 10,000 shares. Based on an average daily trading volume, of 74,400 shares, the short-interest ratio is currently 0.2 days.

Pioneer Floating Rate Fund Stock Up 0.5 %

NYSE PHD opened at $8.67 on Friday. The company has a 50-day simple moving average of $8.85 and a 200-day simple moving average of $8.85. Pioneer Floating Rate Fund has a one year low of $8.46 and a one year high of $10.06.

Pioneer Floating Rate Fund Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, April 28th. Shareholders of record on Wednesday, April 19th were given a dividend of $0.09 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 12.46%. This is an increase from Pioneer Floating Rate Fund's previous monthly dividend of $0.09. The ex-dividend date was Tuesday, April 18th.

Institutional Trading of Pioneer Floating Rate Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in PHD. GPS Wealth Strategies Group LLC purchased a new position in shares of Pioneer Floating Rate Fund in the first quarter worth approximately $31,000. LPL Financial LLC bought a new stake in Pioneer Floating Rate Fund in the fourth quarter worth approximately $91,000. Hennion & Walsh Asset Management Inc. bought a new stake in Pioneer Floating Rate Fund in the third quarter worth approximately $92,000. Commonwealth Equity Services LLC grew its position in Pioneer Floating Rate Fund by 15.4% in the third quarter. Commonwealth Equity Services LLC now owns 16,159 shares of the investment management company's stock worth $139,000 after acquiring an additional 2,159 shares in the last quarter. Finally, Advisor Group Holdings Inc. grew its position in Pioneer Floating Rate Fund by 15.2% in the first quarter. Advisor Group Holdings Inc. now owns 26,817 shares of the investment management company's stock worth $281,000 after acquiring an additional 3,544 shares in the last quarter.

Pioneer Floating Rate Fund Company Profile

(Get Rating)

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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