Short Interest in Pioneer Floating Rate Fund, Inc. (NYSE:PHD) Drops By 40.5%

Pioneer Floating Rate Fund, Inc. (NYSE:PHD) was the recipient of a significant drop in short interest in the month of August. As of August 15th, there was short interest totalling 16,000 shares, a drop of 40.5% from the July 31st total of 26,900 shares. Based on an average trading volume of 55,100 shares, the short-interest ratio is currently 0.3 days.

Institutional Investors Weigh In On Pioneer Floating Rate Fund

A number of large investors have recently added to or reduced their stakes in PHD. Advisors Asset Management Inc. raised its position 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 valued at $2,177,000 after purchasing an additional 94,750 shares in the last quarter. Lake Street Private Wealth LLC increased its holdings 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 buying an additional 56,350 shares during the period. Rothschild Investment LLC purchased a new position in shares of Pioneer Floating Rate Fund in the second quarter worth about $240,000. Robinson Capital Management LLC purchased a new position in shares of Pioneer Floating Rate Fund in the fourth quarter worth about $142,000. Finally, Nomura Holdings Inc. purchased a new position in shares of Pioneer Floating Rate Fund in the fourth quarter worth about $110,000.

Pioneer Floating Rate Fund Trading Down 0.3 %

Shares of PHD stock traded down $0.02 on Wednesday, reaching $9.85. The company’s stock had a trading volume of 24,835 shares, compared to its average volume of 61,407. The stock’s 50 day simple moving average is $9.82 and its 200-day simple moving average is $9.74. Pioneer Floating Rate Fund has a 12-month low of $8.46 and a 12-month high of $10.05.

Pioneer Floating Rate Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th will be given a dividend of $0.0925 per share. The ex-dividend date is Tuesday, August 20th. This represents a $1.11 dividend on an annualized basis and a yield of 11.27%.

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.