Short Interest in Pioneer Floating Rate Fund, Inc. (NYSE:PHD) Drops By 36.7%

Pioneer Floating Rate Fund, Inc. (NYSE:PHD) was the recipient of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 13,600 shares, a drop of 36.7% from the November 15th total of 21,500 shares. Based on an average daily trading volume, of 50,500 shares, the days-to-cover ratio is currently 0.3 days.

Pioneer Floating Rate Fund Stock Down 0.2 %

Shares of NYSE:PHD traded down $0.02 on Friday, hitting $9.84. The company had a trading volume of 35,675 shares, compared to its average volume of 57,960. Pioneer Floating Rate Fund has a 52-week low of $8.92 and a 52-week high of $10.05. The business has a 50 day moving average of $9.84 and a 200 day moving average of $9.84.

Pioneer Floating Rate Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 12th will be given a $0.085 dividend. This represents a $1.02 annualized dividend and a yield of 10.37%. The ex-dividend date of this dividend is Thursday, December 12th.

Institutional Investors Weigh In On Pioneer Floating Rate Fund

Several hedge funds and other institutional investors have recently bought and sold shares of PHD. Clear Creek Financial Management LLC grew its stake in shares of Pioneer Floating Rate Fund by 7.4% in the second quarter. Clear Creek Financial Management LLC now owns 124,103 shares of the investment management company’s stock worth $1,199,000 after purchasing an additional 8,588 shares in the last quarter. Kovack Advisors Inc. purchased a new position in Pioneer Floating Rate Fund during the third quarter valued at approximately $99,000. Rothschild Investment LLC acquired a new stake in Pioneer Floating Rate Fund during the second quarter valued at $240,000. Lake Street Private Wealth LLC grew its stake in shares of Pioneer Floating Rate Fund by 5.7% in the 3rd quarter. Lake Street Private Wealth LLC now owns 703,350 shares of the investment management company’s stock valued at $6,963,000 after buying an additional 37,750 shares in the last quarter. Finally, Fiera Capital Corp acquired a new position in shares of Pioneer Floating Rate Fund during the 3rd quarter worth $508,000.

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.