Pioneer Floating Rate Fund (NYSE:PHD) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Pioneer Floating Rate Fund, Inc. (NYSE:PHD) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.79 and traded as high as $9.93. Pioneer Floating Rate Fund shares last traded at $9.91, with a volume of 33,117 shares trading hands.

Pioneer Floating Rate Fund Stock Performance

The firm’s 50-day simple moving average is $9.86 and its 200 day simple moving average is $9.79.

Pioneer Floating Rate Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 18th will be given a dividend of $0.0925 per share. The ex-dividend date is Friday, October 18th. This represents a $1.11 annualized dividend and a yield of 11.20%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PHD. Nomura Holdings Inc. acquired a new position in shares of Pioneer Floating Rate Fund during the fourth quarter worth $110,000. Lake Street Private Wealth LLC grew its stake in shares of Pioneer Floating Rate Fund by 10.4% in the first quarter. Lake Street Private Wealth LLC now owns 598,250 shares of the investment management company’s stock worth $5,791,000 after purchasing an additional 56,350 shares during the last quarter. Avantax Advisory Services Inc. bought a new stake in shares of Pioneer Floating Rate Fund in the first quarter worth $101,000. Advisors Asset Management Inc. grew its stake in shares of Pioneer Floating Rate Fund by 72.8% in 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 during the last quarter. Finally, Clear Creek Financial Management LLC grew its stake in shares of 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 worth $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.