Pioneer Floating Rate Fund, Inc. Announces Monthly Dividend of $0.08 (NYSE:PHD)

Pioneer Floating Rate Fund, Inc. (NYSE:PHD) announced a monthly dividend on Tuesday, July 8th, Wall Street Journal reports. Stockholders of record on Friday, July 18th will be paid a dividend of 0.075 per share by the investment management company on Thursday, July 31st. This represents a $0.90 annualized dividend and a dividend yield of 9.12%. The ex-dividend date is Friday, July 18th.

Pioneer Floating Rate Fund Stock Performance

Shares of Pioneer Floating Rate Fund stock opened at $9.87 on Wednesday. The business has a 50-day moving average of $9.72 and a 200-day moving average of $9.58. Pioneer Floating Rate Fund has a 1-year low of $8.25 and a 1-year high of $10.05.

Institutional Trading of Pioneer Floating Rate Fund

A hedge fund recently raised its stake in Pioneer Floating Rate Fund stock. Royal Bank of Canada increased its position in Pioneer Floating Rate Fund, Inc. (NYSE:PHD) by 4.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 99,160 shares of the investment management company’s stock after purchasing an additional 3,962 shares during the period. Royal Bank of Canada’s holdings in Pioneer Floating Rate Fund were worth $939,000 at the end of the most recent reporting period.

About Pioneer Floating Rate Fund

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.