Wolverine Asset Management LLC lifted its position in Voya Prime Rate Trust (NYSE:PPR) by 88.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 349,887 shares of the investment management company’s stock after purchasing an additional 164,319 shares during the quarter. Wolverine Asset Management LLC owned about 0.24% of Voya Prime Rate Trust worth $1,773,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mariner Investment Group LLC grew its holdings in shares of Voya Prime Rate Trust by 597.5% in the fourth quarter. Mariner Investment Group LLC now owns 104,624 shares of the investment management company’s stock valued at $530,000 after purchasing an additional 89,624 shares during the period. Hartland & Co. LLC purchased a new position in Voya Prime Rate Trust during the third quarter worth about $1,743,000. Ameriprise Financial Inc. boosted its stake in Voya Prime Rate Trust by 107.3% during the second quarter. Ameriprise Financial Inc. now owns 56,342 shares of the investment management company’s stock worth $303,000 after buying an additional 29,160 shares during the period. City of London Investment Management Co. Ltd. purchased a new position in Voya Prime Rate Trust during the third quarter worth about $3,898,000. Finally, Sit Investment Associates Inc. boosted its stake in Voya Prime Rate Trust by 2,035.1% during the fourth quarter. Sit Investment Associates Inc. now owns 533,768 shares of the investment management company’s stock worth $2,706,000 after buying an additional 508,768 shares during the period.
Separately, AltaCorp Capital reaffirmed a “buy” rating and set a $0.60 target price on shares of Voya Prime Rate Trust in a research note on Monday, January 15th.
Shares of Voya Prime Rate Trust (PPR) traded up $0.01 on Friday, hitting $5.17. 495,157 shares of the stock traded hands, compared to its average volume of 399,388. Voya Prime Rate Trust has a 1-year low of $4.97 and a 1-year high of $5.51.
The firm also recently declared a monthly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Monday, March 12th will be given a dividend of $0.0208 per share. The ex-dividend date is Friday, March 9th. This represents a $0.25 annualized dividend and a dividend yield of 4.83%.
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Voya Prime Rate Trust Profile
Voya Prime Rate Trust (the Trust) is a diversified, closed-end management investment company. The Trust seeks to provide investors with as high a level of current income as is consistent with the preservation of capital. The Trust seeks to achieve this objective by investing, under normal market conditions, approximately 80% of its net assets, plus borrowings for investment purposes, in United States dollar denominated floating rate secured senior loans.
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