Pioneer Floating Rate Fund (NYSE:PHD) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Pioneer Floating Rate Fund, Inc. (NYSE:PHD)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.80 and traded as high as $9.85. Pioneer Floating Rate Fund shares last traded at $9.83, with a volume of 43,032 shares.

Pioneer Floating Rate Fund Price Performance

The company’s 50-day simple moving average is $9.88 and its 200-day simple moving average is $9.80.

Pioneer Floating Rate Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 18th will be given a dividend of $0.0925 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 11.33%. The ex-dividend date is Friday, October 18th.

Hedge Funds Weigh In On Pioneer Floating Rate Fund

A number of institutional investors have recently bought and sold shares of PHD. Lake Street Private Wealth LLC boosted 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. Avantax Advisory Services Inc. purchased a new position in Pioneer Floating Rate Fund during the 1st quarter worth approximately $101,000. Advisors Asset Management Inc. raised its stake in Pioneer Floating Rate Fund by 72.8% during the 1st 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 during the period. Clear Creek Financial Management LLC lifted its holdings 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 valued at $1,199,000 after purchasing an additional 8,588 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new stake in shares of Pioneer Floating Rate Fund in the second quarter worth $240,000.

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.