Pioneer Floating Rate Fund, Inc. Declares Monthly Dividend of $0.09 (NYSE:PHD)

Pioneer Floating Rate Fund, Inc. (NYSE:PHD) announced a monthly dividend on Thursday, April 4th, Wall Street Journal reports. Shareholders of record on Friday, April 19th will be given a dividend of 0.0925 per share by the investment management company on Tuesday, April 30th. This represents a $1.11 annualized dividend and a yield of 11.62%. The ex-dividend date of this dividend is Thursday, April 18th.

Pioneer Floating Rate Fund has raised its dividend by an average of 13.7% per year over the last three years and has increased its dividend annually for the last 2 consecutive years.

Pioneer Floating Rate Fund Stock Performance

NYSE PHD opened at $9.55 on Wednesday. The stock’s 50 day moving average price is $9.67 and its two-hundred day moving average price is $9.28. Pioneer Floating Rate Fund has a 52 week low of $8.30 and a 52 week high of $9.81.

Institutional Investors Weigh In On Pioneer Floating Rate Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Nomura Holdings Inc. bought a new stake in shares of Pioneer Floating Rate Fund during the 4th quarter worth approximately $110,000. UBS Group AG raised its stake in shares of Pioneer Floating Rate Fund by 178.3% during the 4th quarter. UBS Group AG now owns 44,327 shares of the investment management company’s stock worth $406,000 after purchasing an additional 28,398 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Pioneer Floating Rate Fund by 1,703.3% during the 4th quarter. International Assets Investment Management LLC now owns 2,705 shares of the investment management company’s stock worth $25,000 after purchasing an additional 2,555 shares in the last quarter. Riverbridge Partners LLC raised its stake in shares of Pioneer Floating Rate Fund by 1.2% during the 4th quarter. Riverbridge Partners LLC now owns 99,527 shares of the investment management company’s stock worth $913,000 after purchasing an additional 1,177 shares in the last quarter. Finally, LPL Financial LLC raised its stake in shares of Pioneer Floating Rate Fund by 19.6% during the 3rd quarter. LPL Financial LLC now owns 15,260 shares of the investment management company’s stock worth $137,000 after purchasing an additional 2,500 shares in the last quarter.

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.