Pioneer Floating Rate Fund (NYSE:PHD) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Pioneer Floating Rate Fund, Inc. (NYSE:PHD) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.84 and traded as high as $9.90. Pioneer Floating Rate Fund shares last traded at $9.86, with a volume of 42,205 shares trading hands.

Pioneer Floating Rate Fund Price Performance

The company has a 50 day moving average price of $9.84 and a 200 day moving average price of $9.84.

Pioneer Floating Rate Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 12th will be given a dividend of $0.085 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.02 annualized dividend and a dividend yield of 10.34%.

Institutional Investors Weigh In On Pioneer Floating Rate Fund

Several large investors have recently modified their holdings of PHD. Clear Creek Financial Management LLC grew its stake in Pioneer Floating Rate Fund by 7.4% in the 2nd quarter. Clear Creek Financial Management LLC now owns 124,103 shares of the investment management company’s stock valued at $1,199,000 after buying an additional 8,588 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of Pioneer Floating Rate Fund during the 2nd quarter valued at about $240,000. Lake Street Private Wealth LLC grew its stake in Pioneer Floating Rate Fund by 5.7% in the 3rd quarter. Lake Street Private Wealth LLC now owns 703,350 shares of the investment management company’s stock worth $6,963,000 after buying an additional 37,750 shares in the last quarter. Fiera Capital Corp purchased a new position in Pioneer Floating Rate Fund in the third quarter worth $508,000. Finally, Kovack Advisors Inc. bought a new position in shares of Pioneer Floating Rate Fund during the 3rd quarter valued at about $99,000.

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.