Pioneer Floating Rate Fund (NYSE:PHD) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Pioneer Floating Rate Fund, Inc. (NYSE:PHD)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.80 and traded as high as $9.85. Pioneer Floating Rate Fund shares last traded at $9.83, with a volume of 43,032 shares traded.

Pioneer Floating Rate Fund Trading Up 0.2 %

The business has a 50-day moving average of $9.88 and a 200-day moving average of $9.80.

Pioneer Floating Rate Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 18th will be issued a dividend of $0.0925 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $1.11 annualized dividend and a dividend yield of 11.33%.

Hedge Funds Weigh In On Pioneer Floating Rate Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Avantax Advisory Services Inc. bought a new position in shares of Pioneer Floating Rate Fund during the 1st quarter valued at $101,000. Rothschild Investment LLC bought a new position in Pioneer Floating Rate Fund during the second quarter valued at about $240,000. Clear Creek Financial Management LLC lifted its position in shares of Pioneer Floating Rate Fund by 7.4% in the second quarter. Clear Creek Financial Management LLC now owns 124,103 shares of the investment management company’s stock worth $1,199,000 after buying an additional 8,588 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Pioneer Floating Rate Fund by 72.8% during the 1st quarter. Advisors Asset Management Inc. now owns 224,884 shares of the investment management company’s stock worth $2,177,000 after acquiring an additional 94,750 shares in the last quarter. Finally, Lake Street Private Wealth LLC increased its holdings in shares of Pioneer Floating Rate Fund by 10.4% during the 1st quarter. Lake Street Private Wealth LLC now owns 598,250 shares of the investment management company’s stock valued at $5,791,000 after acquiring an additional 56,350 shares during the last quarter.

About Pioneer Floating Rate Fund

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.