Pioneer Floating Rate Fund, Inc. (NYSE:PHD) Announces Monthly Dividend of $0.06

Pioneer Floating Rate Fund, Inc. (NYSE:PHD – Get Rating) announced a monthly dividend on Monday, June 6th, Wall Street Journal reports. Investors 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 dividend yield of 7.66%. The ex-dividend date 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 by an average of 3.2% annually over the last three years.

Shares of Pioneer Floating Rate Fund stock traded up $0.11 during trading on Monday, reaching $9.40. The company’s stock had a trading volume of 95,516 shares, compared to its average volume of 52,538. Pioneer Floating Rate Fund has a 12-month low of $9.11 and a 12-month high of $12.21. The business has a 50 day moving average price of $9.88 and a 200-day moving average price of $10.88.

Institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. purchased a new stake in Pioneer Floating Rate Fund during the fourth quarter worth $116,000. Advisor Group Holdings Inc. lifted its position in shares of Pioneer Floating Rate Fund by 15.2% in the first 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 in the last quarter. Royal Bank of Canada increased its stake in Pioneer Floating Rate Fund by 52.6% in the third quarter. Royal Bank of Canada now owns 74,497 shares of the investment management company’s stock valued at $856,000 after purchasing an additional 25,679 shares during the last quarter. Wells Fargo & Company MN increased its stake in Pioneer Floating Rate Fund by 4.8% in the second quarter. Wells Fargo & Company MN now owns 106,227 shares of the investment management company’s stock valued at $1,267,000 after purchasing an additional 4,883 shares during the last quarter. Finally, Morgan Stanley increased its stake in Pioneer Floating Rate Fund by 23.2% in the second quarter. Morgan Stanley now owns 173,894 shares of the investment management company’s stock valued at $2,075,000 after purchasing an additional 32,780 shares during the last quarter.

About Pioneer Floating Rate Fund (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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