Pioneer Floating Rate Fund (NYSE:PHD) Stock Price Passes Above 200-Day Moving Average of $9.27

Pioneer Floating Rate Fund, Inc. (NYSE:PHD) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.27 and traded as high as $9.70. Pioneer Floating Rate Fund shares last traded at $9.65, with a volume of 41,415 shares traded.

Pioneer Floating Rate Fund Price Performance

The firm’s 50-day moving average price is $9.67 and its two-hundred day moving average price is $9.27.

Pioneer Floating Rate Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 19th will be given a $0.0925 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.11 annualized dividend and a dividend yield of 11.50%.

Institutional Investors Weigh In On Pioneer Floating Rate Fund

Several hedge funds have recently modified their holdings of PHD. International Assets Investment Management LLC raised its stake in shares of Pioneer Floating Rate Fund by 1,703.3% during the 4th quarter. International Assets Investment Management LLC now owns 2,705 shares of the investment management company’s stock worth $25,000 after acquiring an additional 2,555 shares in the last quarter. Zazove Associates LLC bought a new position in shares of Pioneer Floating Rate Fund during the 3rd quarter worth approximately $59,000. LPL Financial LLC bought a new position in shares of Pioneer Floating Rate Fund during the 4th quarter worth approximately $91,000. Nomura Holdings Inc. bought a new position in shares of Pioneer Floating Rate Fund during the 4th quarter worth approximately $110,000. Finally, Commonwealth Equity Services LLC raised its stake in shares of Pioneer Floating Rate Fund by 15.4% during the 3rd 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.

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.