Pioneer Floating Rate Fund (NYSE:PHD) Stock Passes Above 200 Day Moving Average of $9.75

Pioneer Floating Rate Fund, Inc. (NYSE:PHD) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.75 and traded as high as $9.97. Pioneer Floating Rate Fund shares last traded at $9.94, with a volume of 53,983 shares traded.

Pioneer Floating Rate Fund Price Performance

The company has a 50 day simple moving average of $9.84 and a 200-day simple moving average of $9.75.

Pioneer Floating Rate Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be paid a $0.0925 dividend. This represents a $1.11 annualized dividend and a yield of 11.17%. The ex-dividend date is Friday, September 20th.

Institutional Trading of Pioneer Floating Rate Fund

Hedge funds and other institutional investors have recently bought and sold shares of the company. Avantax Advisory Services Inc. purchased a new stake in Pioneer Floating Rate Fund in the first quarter worth approximately $101,000. Nomura Holdings Inc. bought a new stake in Pioneer Floating Rate Fund in the fourth quarter valued at approximately $110,000. Robinson Capital Management LLC bought a new stake in Pioneer Floating Rate Fund in the fourth quarter valued at approximately $142,000. Rothschild Investment LLC bought a new stake in Pioneer Floating Rate Fund in the second quarter valued at approximately $240,000. Finally, Clear Creek Financial Management LLC lifted its position in Pioneer Floating Rate Fund by 7.4% in the second quarter. Clear Creek Financial Management LLC now owns 124,103 shares of the investment management company’s stock valued at $1,199,000 after purchasing an additional 8,588 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.