Pioneer Floating Rate Fund (NYSE:PHD) Stock Price Passes Above Two Hundred Day Moving Average of $9.27

Shares of Pioneer Floating Rate Fund, Inc. (NYSE:PHD) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.27 and traded as high as $9.70. Pioneer Floating Rate Fund shares last traded at $9.65, with a volume of 41,415 shares traded.

Pioneer Floating Rate Fund Stock Performance

The firm’s 50-day moving average price is $9.67 and its 200 day moving average price is $9.27.

Pioneer Floating Rate Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 19th will be given a dividend of $0.0925 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.11 annualized dividend and a dividend yield of 11.50%.

Hedge Funds Weigh In On Pioneer Floating Rate Fund

Several large investors have recently modified their holdings of the stock. Nomura Holdings Inc. bought a new position in shares of Pioneer Floating Rate Fund during the fourth quarter worth about $110,000. UBS Group AG lifted its holdings in Pioneer Floating Rate Fund by 178.3% in the fourth quarter. UBS Group AG now owns 44,327 shares of the investment management company’s stock worth $406,000 after acquiring an additional 28,398 shares during the last quarter. Robinson Capital Management LLC bought a new position in Pioneer Floating Rate Fund in the fourth quarter worth about $142,000. Shaker Financial Services LLC lifted its holdings in Pioneer Floating Rate Fund by 9.7% in the fourth 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 last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Pioneer Floating Rate Fund by 1,703.3% in the fourth 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 last quarter.

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.