Pioneer Floating Rate Fund, Inc. (NYSE:PHD) Short Interest Down 66.7% in May

Pioneer Floating Rate Fund, Inc. (NYSE:PHDGet Rating) saw a significant decline in short interest in May. As of May 31st, there was short interest totalling 6,400 shares, a decline of 66.7% from the May 15th total of 19,200 shares. Based on an average daily volume of 57,400 shares, the short-interest ratio is presently 0.1 days.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings in Pioneer Floating Rate Fund by 7.1% during the first quarter. Bank of America Corp DE now owns 231,577 shares of the investment management company’s stock worth $2,425,000 after acquiring an additional 15,301 shares in the last quarter. Royal Bank of Canada raised its holdings in Pioneer Floating Rate Fund by 14.5% during the first quarter. Royal Bank of Canada now owns 94,515 shares of the investment management company’s stock worth $990,000 after acquiring an additional 12,001 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in Pioneer Floating Rate Fund during the first quarter worth about $146,000. Fiera Capital Corp raised its holdings in Pioneer Floating Rate Fund by 28.0% during the first quarter. Fiera Capital Corp now owns 45,189 shares of the investment management company’s stock worth $473,000 after acquiring an additional 9,893 shares in the last quarter. Finally, Trustcore Financial Services LLC raised its holdings in Pioneer Floating Rate Fund by 120.9% during the first quarter. Trustcore Financial Services LLC now owns 110,982 shares of the investment management company’s stock worth $1,162,000 after acquiring an additional 60,751 shares in the last quarter.

Shares of Pioneer Floating Rate Fund stock traded down $0.06 during trading on Friday, reaching $9.26. The stock had a trading volume of 86,761 shares, compared to its average volume of 53,304. The stock has a fifty day moving average price of $9.77 and a two-hundred day moving average price of $10.81. Pioneer Floating Rate Fund has a 52 week low of $9.11 and a 52 week high of $12.21.

The business also recently announced a monthly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 16th will be issued a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 7.78%. The ex-dividend date of this dividend is Wednesday, June 15th. This is a positive change from Pioneer Floating Rate Fund’s previous monthly dividend of $0.06.

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.

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