Pioneer Floating Rate Fund, Inc. (NYSE:PHD) Increases Dividend to $0.06 Per Share

Pioneer Floating Rate Fund, Inc. (NYSE:PHDGet Rating) declared a monthly dividend on Monday, June 6th, Wall Street Journal reports. Shareholders of record on Thursday, June 16th will be given a dividend of 0.06 per share by the investment management company on Thursday, June 30th. This represents a $0.72 dividend on an annualized basis and a yield of 7.66%. The ex-dividend date of this dividend is Wednesday, June 15th. This is a boost from Pioneer Floating Rate Fund’s previous monthly dividend of $0.06.

Pioneer Floating Rate Fund has raised its dividend payment by an average of 3.2% annually over the last three years.

Shares of Pioneer Floating Rate Fund stock traded up $0.11 on Monday, reaching $9.40. 95,516 shares of the company were exchanged, compared to its average volume of 52,538. The company’s 50-day moving average is $9.88 and its two-hundred day moving average is $10.88. Pioneer Floating Rate Fund has a 1-year low of $9.11 and a 1-year high of $12.21.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. acquired a new stake in Pioneer Floating Rate Fund in the 4th quarter valued at approximately $116,000. Advisor Group Holdings Inc. increased its position in Pioneer Floating Rate Fund by 15.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 26,817 shares of the investment management company’s stock valued at $281,000 after acquiring an additional 3,544 shares during the period. Royal Bank of Canada increased its position in Pioneer Floating Rate Fund by 52.6% in the 3rd quarter. Royal Bank of Canada now owns 74,497 shares of the investment management company’s stock valued at $856,000 after acquiring an additional 25,679 shares during the period. Wells Fargo & Company MN increased its position in Pioneer Floating Rate Fund by 4.8% in the 2nd quarter. Wells Fargo & Company MN now owns 106,227 shares of the investment management company’s stock valued at $1,267,000 after acquiring an additional 4,883 shares during the period. Finally, Morgan Stanley increased its position in Pioneer Floating Rate Fund by 23.2% in the 2nd quarter. Morgan Stanley now owns 173,894 shares of the investment management company’s stock valued at $2,075,000 after acquiring an additional 32,780 shares during the period.

Pioneer Floating Rate Fund Company Profile (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.

See Also

Dividend History for Pioneer Floating Rate Fund (NYSE:PHD)

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