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

Pioneer Floating Rate Fund, Inc. (NYSE:PHD) declared a monthly dividend on Wednesday, September 6th, Wall Street Journal reports. Shareholders of record on Wednesday, September 20th will be paid a dividend of 0.0925 per share by the investment management company on Friday, September 29th. This represents a $1.11 annualized dividend and a yield of 12.20%. The ex-dividend date is Tuesday, September 19th.

Pioneer Floating Rate Fund has raised its dividend payment by an average of 5.1% annually over the last three years and has raised its dividend annually for the last 2 consecutive years.

Pioneer Floating Rate Fund Trading Down 0.7 %

Shares of PHD opened at $9.10 on Monday. The stock has a fifty day moving average of $8.99 and a two-hundred day moving average of $8.76. Pioneer Floating Rate Fund has a fifty-two week low of $8.30 and a fifty-two week high of $9.48.

Institutional Trading of Pioneer Floating Rate Fund

A number of institutional investors and hedge funds have recently made changes to their positions in PHD. UBS Group AG increased its holdings in Pioneer Floating Rate Fund by 3.8% in the 2nd quarter. UBS Group AG now owns 47,890 shares of the investment management company’s stock valued at $426,000 after purchasing an additional 1,735 shares in the last quarter. HighTower Advisors LLC increased its holdings in Pioneer Floating Rate Fund by 7.3% in the 1st quarter. HighTower Advisors LLC now owns 31,171 shares of the investment management company’s stock valued at $270,000 after purchasing an additional 2,134 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Pioneer Floating Rate Fund by 15.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 16,159 shares of the investment management company’s stock valued at $139,000 after purchasing an additional 2,159 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in Pioneer Floating Rate Fund by 15.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 26,817 shares of the investment management company’s stock valued at $281,000 after purchasing an additional 3,544 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Pioneer Floating Rate Fund by 6.7% in the 4th quarter. Wells Fargo & Company MN now owns 84,804 shares of the investment management company’s stock valued at $744,000 after purchasing an additional 5,292 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.