Pioneer Floating Rate Fund (NYSE:PHD) Shares Pass Above 200-Day Moving Average – Time to Sell?

Shares of Pioneer Floating Rate Fund, Inc. (NYSE:PHD) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.79 and traded as high as $9.93. Pioneer Floating Rate Fund shares last traded at $9.91, with a volume of 33,117 shares changing hands.

Pioneer Floating Rate Fund Stock Up 0.2 %

The firm’s fifty day simple moving average is $9.87 and its 200 day simple moving average is $9.79.

Pioneer Floating Rate Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 18th will be paid a $0.0925 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 11.18%. The ex-dividend date is Friday, October 18th.

Institutional Trading of Pioneer Floating Rate Fund

Several hedge funds and other institutional investors have recently modified their holdings of the business. Nomura Holdings Inc. purchased a new stake in Pioneer Floating Rate Fund in the 4th quarter worth about $110,000. Lake Street Private Wealth LLC lifted its position in shares of Pioneer Floating Rate Fund by 10.4% in the first quarter. Lake Street Private Wealth LLC now owns 598,250 shares of the investment management company’s stock worth $5,791,000 after purchasing an additional 56,350 shares in the last quarter. Avantax Advisory Services Inc. acquired a new stake in shares of Pioneer Floating Rate Fund during the first quarter worth approximately $101,000. Advisors Asset Management Inc. grew its position in Pioneer Floating Rate Fund by 72.8% during the first quarter. Advisors Asset Management Inc. now owns 224,884 shares of the investment management company’s stock valued at $2,177,000 after purchasing an additional 94,750 shares in the last quarter. Finally, Clear Creek Financial Management LLC increased its stake in Pioneer Floating Rate Fund by 7.4% in the 2nd quarter. Clear Creek Financial Management LLC now owns 124,103 shares of the investment management company’s stock valued at $1,199,000 after buying an additional 8,588 shares during the 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.