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

Pioneer Floating Rate Fund, Inc. (NYSE:PHD) was the recipient of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 13,600 shares, a decline of 36.7% from the November 15th total of 21,500 shares. Based on an average trading volume of 50,500 shares, the days-to-cover ratio is currently 0.3 days.

Pioneer Floating Rate Fund Stock Down 0.2 %

Shares of PHD traded down $0.02 during trading hours on Friday, hitting $9.84. The company had a trading volume of 35,675 shares, compared to its average volume of 57,960. Pioneer Floating Rate Fund has a 52-week low of $8.92 and a 52-week high of $10.05. The stock’s 50 day moving average price is $9.84 and its 200 day moving average price is $9.84.

Pioneer Floating Rate Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 12th will be issued a $0.085 dividend. This represents a $1.02 annualized dividend and a dividend yield of 10.37%. The ex-dividend date is Thursday, December 12th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Fiera Capital Corp purchased a new stake in Pioneer Floating Rate Fund in the third quarter worth $508,000. Lake Street Private Wealth LLC boosted its stake in shares of Pioneer Floating Rate Fund by 5.7% during the 3rd quarter. Lake Street Private Wealth LLC now owns 703,350 shares of the investment management company’s stock valued at $6,963,000 after purchasing an additional 37,750 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Pioneer Floating Rate Fund during the second quarter valued at about $240,000. Clear Creek Financial Management LLC raised its stake in Pioneer Floating Rate Fund by 10.8% in the third quarter. Clear Creek Financial Management LLC now owns 137,527 shares of the investment management company’s stock worth $1,362,000 after buying an additional 13,424 shares in the last quarter. Finally, Stifel Financial Corp purchased a new stake in Pioneer Floating Rate Fund in the third quarter worth about $123,000.

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.