Short Interest in Pioneer Floating Rate Fund, Inc. (NYSE:PHD) Declines By 36.7%

Pioneer Floating Rate Fund, Inc. (NYSE:PHD) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 13,600 shares, a drop of 36.7% from the November 15th total of 21,500 shares. Based on an average trading volume of 50,500 shares, the short-interest ratio is presently 0.3 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Stifel Financial Corp bought a new position in shares of Pioneer Floating Rate Fund in the third quarter valued at approximately $123,000. Kovack Advisors Inc. bought a new position in Pioneer Floating Rate Fund in the 3rd quarter valued at $99,000. Fiera Capital Corp acquired a new position in Pioneer Floating Rate Fund in the third quarter worth $508,000. Clear Creek Financial Management LLC grew its holdings in shares of Pioneer Floating Rate Fund by 10.8% during the third quarter. Clear Creek Financial Management LLC now owns 137,527 shares of the investment management company’s stock worth $1,362,000 after purchasing an additional 13,424 shares during the last quarter. Finally, Lake Street Private Wealth LLC grew its holdings in shares of 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 during the last quarter.

Pioneer Floating Rate Fund Trading Down 0.2 %

Shares of PHD stock traded down $0.02 during trading hours on Friday, hitting $9.84. The company had a trading volume of 35,675 shares, compared to its average volume of 57,960. Pioneer Floating Rate Fund has a 12 month low of $8.92 and a 12 month high of $10.05. The firm’s fifty day moving average is $9.84 and its 200 day moving average is $9.84.

Pioneer Floating Rate Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 12th will be given a $0.085 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 10.37%. The ex-dividend date is Thursday, December 12th.

Pioneer Floating Rate Fund Company Profile

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.