10,000 Shares in Pioneer Floating Rate Fund, Inc. (NYSE:PHD) Purchased by Kovack Advisors Inc.

Kovack Advisors Inc. bought a new stake in shares of Pioneer Floating Rate Fund, Inc. (NYSE:PHD) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,000 shares of the investment management company’s stock, valued at approximately $99,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Advisors Asset Management Inc. lifted 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 during the period. Fiera Capital Corp purchased a new stake in Pioneer Floating Rate Fund during the third quarter valued at $508,000. Lake Street Private Wealth LLC lifted its holdings in Pioneer Floating Rate Fund by 5.7% in the third quarter. Lake Street Private Wealth LLC now owns 703,350 shares of the investment management company’s stock valued at $6,963,000 after acquiring an additional 37,750 shares during the period. Rothschild Investment LLC purchased a new position in Pioneer Floating Rate Fund in the second quarter worth about $240,000. Finally, Clear Creek Financial Management LLC grew its stake in shares of Pioneer Floating Rate Fund by 10.8% during the 3rd quarter. Clear Creek Financial Management LLC now owns 137,527 shares of the investment management company’s stock valued at $1,362,000 after purchasing an additional 13,424 shares during the period.

Pioneer Floating Rate Fund Trading Up 0.6 %

Shares of NYSE:PHD opened at $9.82 on Friday. The firm’s 50 day moving average price is $9.87 and its 200-day moving average price is $9.82. Pioneer Floating Rate Fund, Inc. has a twelve month low of $8.84 and a twelve month high of $10.05.

Pioneer Floating Rate Fund Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a dividend of $0.085 per share. This represents a $1.02 annualized dividend and a dividend yield of 10.39%. The ex-dividend date of this dividend is Friday, November 15th.

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.