Pioneer Floating Rate Fund, Inc. (NYSE:PHD) Short Interest Down 66.7% in May


Pioneer Floating Rate Fund, Inc. (NYSE:PHD – Get Rating) saw a significant decline in short-term interest in May. As of May 31, there was short interest totaling 6,400 shares, down 66.7% from the May 15 total of 19,200 shares. Based on an average daily volume of 57,400 shares, the short interest ratio is currently 0.1 day.

A number of institutional investors and hedge funds have recently increased or reduced their stakes in the stock. Bank of America Corp DE increased its holdings in Pioneer Floating Rate Fund by 7.1% in the first quarter. Bank of America Corp DE now owns 231,577 shares of the investment management firm worth $2,425,000 after acquiring 15,301 more shares last quarter. Royal Bank of Canada increased its holdings in the Pioneer Floating Rate Fund by 14.5% during the first quarter. Royal Bank of Canada now owns 94,515 shares of the investment management company worth $990,000 after acquiring 12,001 more shares last quarter. Landscape Capital Management LLC purchased a new stake in Pioneer Floating Rate Fund during the first quarter for a value of approximately $146,000. Fiera Capital Corp increased its holdings in the Pioneer Floating Rate Fund by 28.0% during the first quarter. Fiera Capital Corp now owns 45,189 shares of the investment management company worth $473,000 after acquiring 9,893 more shares last quarter. Finally, Trustcore Financial Services LLC increased its holdings in Pioneer Floating Rate Fund by 120.9% during the first quarter. Trustcore Financial Services LLC now owns 110,982 shares of the investment management company worth $1,162,000 after acquiring an additional 60,751 shares in the last quarter.

Shares of the Pioneer Floating Rate Fund traded down $0.06 in Friday trading, hitting $9.26. The stock had a trading volume of 86,761 shares, compared to an average volume of 53,304. The stock has a fifty-day moving average price of $9.77 and a two-hundred-day moving average price of 10, $81. Pioneer Floating Rate Fund has a 52-week low of $9.11 and a 52-week high of $12.21.

The company also recently announced a monthly dividend, which will be paid on Thursday, June 30. Investors of record on Thursday, June 16 will receive a dividend of $0.06 per share. This represents an annualized dividend of $0.72 and a yield of 7.78%. The ex-date of this dividend is Wednesday, June 15. This is a positive change from the Pioneer Floating Rate Fund’s previous monthly dividend of $0.06.

Pioneer Floating Rate Fund Company Profile (Get a rating)

Pioneer Floating Rate Fund, Inc is a fixed-income, fixed-income mutual fund launched and managed by Pioneer Investment Management, Inc. It invests in the United States fixed-income securities markets. The fund invests primarily in senior secured floating rate loans. He compares the performance of his portfolio to that of Barclays US

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