Pioneer Floating Rate Trust (NYSE:PHD) Major Shareholder Acquires $324,689.56 in Stock

Pioneer Floating Rate Trust (NYSE:PHD) major shareholder Saba Capital Management, L.P. purchased 29,068 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average price of $11.17 per share, for a total transaction of $324,689.56. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

  • On Monday, February 10th, Saba Capital Management, L.P. purchased 13,326 shares of Pioneer Floating Rate Trust stock. The stock was bought at an average cost of $11.08 per share, with a total value of $147,652.08.
  • On Friday, January 24th, Saba Capital Management, L.P. acquired 6,066 shares of Pioneer Floating Rate Trust stock. The shares were purchased at an average cost of $11.05 per share, with a total value of $67,029.30.
  • On Wednesday, January 22nd, Saba Capital Management, L.P. acquired 5,805 shares of Pioneer Floating Rate Trust stock. The shares were purchased at an average cost of $11.06 per share, with a total value of $64,203.30.
  • On Thursday, January 9th, Saba Capital Management, L.P. acquired 7,931 shares of Pioneer Floating Rate Trust stock. The shares were purchased at an average price of $10.95 per share, for a total transaction of $86,844.45.
  • On Tuesday, January 7th, Saba Capital Management, L.P. bought 14,757 shares of Pioneer Floating Rate Trust stock. The stock was purchased at an average cost of $10.86 per share, for a total transaction of $160,261.02.
  • On Friday, December 20th, Saba Capital Management, L.P. bought 1,104 shares of Pioneer Floating Rate Trust stock. The stock was purchased at an average cost of $10.89 per share, for a total transaction of $12,022.56.
  • On Wednesday, December 18th, Saba Capital Management, L.P. bought 17,727 shares of Pioneer Floating Rate Trust stock. The stock was purchased at an average price of $10.80 per share, with a total value of $191,451.60.
  • On Thursday, December 12th, Saba Capital Management, L.P. purchased 13,584 shares of Pioneer Floating Rate Trust stock. The shares were purchased at an average cost of $10.64 per share, with a total value of $144,533.76.
  • On Wednesday, December 4th, Saba Capital Management, L.P. purchased 9,768 shares of Pioneer Floating Rate Trust stock. The shares were purchased at an average price of $10.61 per share, for a total transaction of $103,638.48.

NYSE:PHD traded up $0.11 during mid-day trading on Friday, reaching $11.17. The stock had a trading volume of 65,674 shares, compared to its average volume of 59,537. The stock has a 50-day simple moving average of $10.97 and a two-hundred day simple moving average of $10.63. Pioneer Floating Rate Trust has a 12 month low of $10.27 and a 12 month high of $11.15.

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 19th will be given a dividend of $0.063 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.76 annualized dividend and a yield of 6.77%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHD. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Pioneer Floating Rate Trust by 5.1% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 23,494 shares of the investment management company’s stock valued at $251,000 after purchasing an additional 1,132 shares in the last quarter. Park Avenue Securities LLC raised its holdings in shares of Pioneer Floating Rate Trust by 16.6% during the 3rd quarter. Park Avenue Securities LLC now owns 29,658 shares of the investment management company’s stock worth $312,000 after buying an additional 4,227 shares in the last quarter. Lake Street Financial LLC bought a new stake in shares of Pioneer Floating Rate Trust during the 3rd quarter worth $3,336,000. Round Table Services LLC lifted its position in shares of Pioneer Floating Rate Trust by 8.4% during the 3rd quarter. Round Table Services LLC now owns 15,489 shares of the investment management company’s stock worth $163,000 after buying an additional 1,200 shares during the last quarter. Finally, Capital Investment Advisors LLC boosted its stake in Pioneer Floating Rate Trust by 7.1% in the third quarter. Capital Investment Advisors LLC now owns 550,402 shares of the investment management company’s stock valued at $5,796,000 after buying an additional 36,662 shares in the last quarter.

About Pioneer Floating Rate Trust

Pioneer Floating Rate Trust 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.

Recommended Story: What are the benefits of a balanced fund?

Insider Buying and Selling by Quarter for Pioneer Floating Rate Trust (NYSE:PHD)

Receive News & Ratings for Pioneer Floating Rate Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pioneer Floating Rate Trust and related companies with MarketBeat.com's FREE daily email newsletter.