Voya Prime Rate Trust (NYSE:PPR) was the target of a significant increase in short interest in March. As of March 13th, there was short interest totalling 469,100 shares, an increase of 159.5% from the February 27th total of 180,800 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average daily volume of 714,900 shares, the days-to-cover ratio is currently 0.7 days.
Shares of PPR stock traded up $0.10 during trading on Thursday, reaching $3.63. The company’s stock had a trading volume of 983,962 shares, compared to its average volume of 807,132. The business has a fifty day moving average price of $4.68 and a 200-day moving average price of $4.82. Voya Prime Rate Trust has a one year low of $2.95 and a one year high of $5.19.
The firm also recently disclosed a monthly dividend, which was paid on Monday, March 23rd. Stockholders of record on Tuesday, March 10th were given a $0.0217 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 7.17%. The ex-dividend date was Monday, March 9th.
In other Voya Prime Rate Trust news, major shareholder Saba Capital Management, L.P. acquired 46,086 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average price of $3.82 per share, with a total value of $176,048.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders bought 7,898,172 shares of company stock worth $39,065,962.
Several hedge funds have recently made changes to their positions in PPR. Amundi Pioneer Asset Management Inc. lifted its position in shares of Voya Prime Rate Trust by 12.8% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 3,605,783 shares of the investment management company’s stock worth $17,236,000 after purchasing an additional 409,592 shares in the last quarter. Stifel Financial Corp raised its position in Voya Prime Rate Trust by 4.5% during the third quarter. Stifel Financial Corp now owns 472,793 shares of the investment management company’s stock worth $2,224,000 after acquiring an additional 20,198 shares in the last quarter. Saba Capital Management L.P. raised its position in Voya Prime Rate Trust by 20.5% during the third quarter. Saba Capital Management L.P. now owns 16,280,588 shares of the investment management company’s stock worth $76,682,000 after acquiring an additional 2,774,736 shares in the last quarter. Millennium Management LLC raised its position in Voya Prime Rate Trust by 140.2% during the third quarter. Millennium Management LLC now owns 42,509 shares of the investment management company’s stock worth $200,000 after acquiring an additional 24,809 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its position in Voya Prime Rate Trust by 432.2% during the fourth quarter. FNY Investment Advisers LLC now owns 47,100 shares of the investment management company’s stock worth $235,000 after acquiring an additional 38,250 shares in the last quarter.
About Voya Prime Rate Trust
Voya Prime Rate Trust is a closed-ended fixed income mutual fund launched by Voya Investment Management LLC. The fund is co-managed by Voya Investments, LLC and Voya Investment Management Co LLC. It invests in the fixed income markets of the United States. The fund seeks to invest in securities of companies operating across diversified sectors.
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