Pioneer Floating Rate Fund (NYSE:PHD) Share Price Passes Above 200-Day Moving Average of $9.30

Pioneer Floating Rate Fund, Inc. (NYSE:PHD)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.30 and traded as high as $9.62. Pioneer Floating Rate Fund shares last traded at $9.60, with a volume of 49,768 shares.

Pioneer Floating Rate Fund Stock Performance

The company has a fifty day moving average of $9.66 and a two-hundred day moving average of $9.30.

Pioneer Floating Rate Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 19th will be issued a dividend of $0.0925 per share. The ex-dividend date is Thursday, April 18th. This represents a $1.11 annualized dividend and a yield of 11.56%.

Hedge Funds Weigh In On Pioneer Floating Rate Fund

A number of hedge funds have recently added to or reduced their stakes in the stock. Clear Creek Financial Management LLC increased its stake in Pioneer Floating Rate Fund by 1.1% during the 4th quarter. Clear Creek Financial Management LLC now owns 118,871 shares of the investment management company’s stock worth $1,090,000 after acquiring an additional 1,267 shares during the period. International Assets Investment Management LLC increased its stake in 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 during the period. Zazove Associates LLC bought a new position in Pioneer Floating Rate Fund during the 3rd quarter worth $59,000. Shaker Financial Services LLC increased its stake in Pioneer Floating Rate Fund by 9.7% during the 4th quarter. Shaker Financial Services LLC now owns 93,683 shares of the investment management company’s stock worth $868,000 after acquiring an additional 8,250 shares during the period. Finally, Nomura Holdings Inc. bought a new position in Pioneer Floating Rate Fund during the 4th quarter worth $110,000.

About Pioneer Floating Rate Fund

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.