Short Interest in Pioneer Floating Rate Fund, Inc. (NYSE:PHD) Decreases By 25.5%

Pioneer Floating Rate Fund, Inc. (NYSE:PHD) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 10,500 shares, a drop of 25.5% from the October 15th total of 14,100 shares. Based on an average trading volume of 49,900 shares, the days-to-cover ratio is presently 0.2 days.

Pioneer Floating Rate Fund Stock Up 0.5 %

PHD stock traded up $0.05 during midday trading on Thursday, reaching $9.85. 85,264 shares of the company were exchanged, compared to its average volume of 58,697. Pioneer Floating Rate Fund has a 1-year low of $8.84 and a 1-year high of $10.05. The stock’s 50-day simple moving average is $9.87 and its 200 day simple moving average is $9.82.

Pioneer Floating Rate Fund Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a dividend of $0.085 per share. The ex-dividend date is Friday, November 15th. This represents a $1.02 dividend on an annualized basis and a yield of 10.36%.

Institutional Trading of Pioneer Floating Rate Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. acquired a new stake in Pioneer Floating Rate Fund during the first quarter worth approximately $101,000. Clear Creek Financial Management LLC raised its holdings in Pioneer Floating Rate Fund by 7.4% during the second quarter. Clear Creek Financial Management LLC now owns 124,103 shares of the investment management company’s stock worth $1,199,000 after purchasing an additional 8,588 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Pioneer Floating Rate Fund by 72.8% during the first quarter. Advisors Asset Management Inc. now owns 224,884 shares of the investment management company’s stock worth $2,177,000 after purchasing an additional 94,750 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Pioneer Floating Rate Fund during the second quarter worth approximately $240,000. Finally, Lake Street Private Wealth LLC raised its holdings in Pioneer Floating Rate Fund by 5.7% during the third quarter. Lake Street Private Wealth LLC now owns 703,350 shares of the investment management company’s stock worth $6,963,000 after purchasing an additional 37,750 shares in 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.