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

Pioneer Floating Rate Fund, Inc. (NYSE:PHD) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 13,600 shares, a drop of 36.7% from the November 15th total of 21,500 shares. Based on an average daily volume of 50,500 shares, the short-interest ratio is currently 0.3 days.

Pioneer Floating Rate Fund Stock Down 0.2 %

PHD traded down $0.02 during trading on Friday, hitting $9.84. The company’s stock had a trading volume of 35,675 shares, compared to its average volume of 57,960. Pioneer Floating Rate Fund has a one year low of $8.92 and a one year high of $10.05. The business’s 50 day simple moving average is $9.84 and its 200-day simple moving average is $9.84.

Pioneer Floating Rate Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 12th will be issued a dividend of $0.085 per share. This represents a $1.02 annualized dividend and a yield of 10.37%. The ex-dividend date is Thursday, December 12th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Clear Creek Financial Management LLC lifted its holdings in Pioneer Floating Rate Fund by 7.4% during the second quarter. Clear Creek Financial Management LLC now owns 124,103 shares of the investment management company’s stock valued at $1,199,000 after purchasing an additional 8,588 shares in the last quarter. Rothschild Investment LLC bought a new position in Pioneer Floating Rate Fund in the 2nd quarter worth $240,000. Lake Street Private Wealth LLC raised its holdings in Pioneer Floating Rate Fund by 5.7% during the third quarter. Lake Street Private Wealth LLC now owns 703,350 shares of the investment management company’s stock valued at $6,963,000 after acquiring an additional 37,750 shares during the period. Fiera Capital Corp purchased a new position in shares of Pioneer Floating Rate Fund in the third quarter valued at about $508,000. Finally, Kovack Advisors Inc. bought a new stake in Pioneer Floating Rate Fund during the 3rd quarter valued at approximately $99,000.

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.