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

Pioneer Floating Rate Fund, Inc. (NYSE:PHDGet Rating) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 7,100 shares, a drop of 33.0% from the March 31st total of 10,600 shares. Based on an average daily volume of 43,800 shares, the short-interest ratio is currently 0.2 days.

Institutional investors have recently made changes to their positions in the business. Wedbush Securities Inc. grew its stake in Pioneer Floating Rate Fund by 18.8% in the fourth quarter. Wedbush Securities Inc. now owns 15,808 shares of the investment management company’s stock valued at $184,000 after acquiring an additional 2,500 shares during the period. Clear Creek Financial Management LLC boosted its position in shares of Pioneer Floating Rate Fund by 3.4% during the fourth quarter. Clear Creek Financial Management LLC now owns 141,248 shares of the investment management company’s stock valued at $1,640,000 after buying an additional 4,583 shares during the last quarter. Guggenheim Capital LLC boosted its position in shares of Pioneer Floating Rate Fund by 11.6% during the third quarter. Guggenheim Capital LLC now owns 564,182 shares of the investment management company’s stock valued at $6,482,000 after buying an additional 58,599 shares during the last quarter. Advisor Group Holdings Inc. boosted its position in shares of Pioneer Floating Rate Fund by 35.5% during the third quarter. Advisor Group Holdings Inc. now owns 21,968 shares of the investment management company’s stock valued at $252,000 after buying an additional 5,760 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Pioneer Floating Rate Fund by 109.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 114,342 shares of the investment management company’s stock valued at $1,328,000 after buying an additional 59,719 shares during the last quarter.

NYSE PHD opened at $9.96 on Friday. Pioneer Floating Rate Fund has a one year low of $9.95 and a one year high of $12.21. The business has a 50 day simple moving average of $10.45 and a 200 day simple moving average of $11.29.

The company also recently disclosed a monthly dividend, which was paid on Friday, April 29th. Shareholders of record on Tuesday, April 19th were paid a $0.0575 dividend. The ex-dividend date of this dividend was Monday, April 18th. This represents a $0.69 dividend on an annualized basis and a yield of 6.93%.

About Pioneer Floating Rate Fund (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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