Pioneer Floating Rate Fund, Inc. Declares Monthly Dividend of $0.06 (NYSE:PHD)

Pioneer Floating Rate Fund, Inc. (NYSE:PHD) announced a monthly dividend on Tuesday, September 7th, Wall Street Journal reports. Shareholders of record on Thursday, September 16th will be paid a dividend of 0.0575 per share by the investment management company on Thursday, September 30th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 6.08%. The ex-dividend date of this dividend is Wednesday, September 15th.

Pioneer Floating Rate Fund has decreased its dividend payment by 5.6% over the last three years and has increased its dividend annually for the last 1 consecutive years.

PHD stock opened at $11.35 on Tuesday. Pioneer Floating Rate Fund has a 1 year low of $9.92 and a 1 year high of $12.10. The company has a fifty day simple moving average of $11.48 and a 200 day simple moving average of $11.41.

An institutional investor recently raised its position in Pioneer Floating Rate Fund stock. Morgan Stanley lifted its holdings in Pioneer Floating Rate Fund, Inc. (NYSE:PHD) by 23.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 173,894 shares of the investment management company’s stock after purchasing an additional 32,780 shares during the period. Morgan Stanley’s holdings in Pioneer Floating Rate Fund were worth $2,075,000 at the end of the most recent reporting period.

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.

Further Reading: What does a hold rating mean?

Dividend History for Pioneer Floating Rate Fund (NYSE:PHD)

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