Pioneer Floating Rate Trust (PHD) Hits New 52-Week Low at $10.25

Shares of Pioneer Floating Rate Trust (NYSE:PHD) hit a new 52-week low on Thursday . The stock traded as low as $10.25 and last traded at $10.32, with a volume of 3976 shares changing hands. The stock had previously closed at $10.44.

The firm also recently announced a monthly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, December 13th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, December 12th. This represents a $0.72 annualized dividend and a dividend yield of 6.95%.

Several institutional investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. grew its stake in shares of Pioneer Floating Rate Trust by 8.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 75,532 shares of the investment management company’s stock valued at $844,000 after acquiring an additional 5,849 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new stake in shares of Pioneer Floating Rate Trust during the second quarter valued at about $575,000. Fifth Third Bancorp grew its stake in shares of Pioneer Floating Rate Trust by 1,397.3% during the third quarter. Fifth Third Bancorp now owns 14,509 shares of the investment management company’s stock valued at $160,000 after acquiring an additional 13,540 shares in the last quarter. Comerica Securities Inc. grew its stake in shares of Pioneer Floating Rate Trust by 8.1% during the third quarter. Comerica Securities Inc. now owns 229,462 shares of the investment management company’s stock valued at $2,531,000 after acquiring an additional 17,151 shares in the last quarter. Finally, Raymond James & Associates grew its stake in shares of Pioneer Floating Rate Trust by 68.9% during the second quarter. Raymond James & Associates now owns 45,464 shares of the investment management company’s stock valued at $508,000 after acquiring an additional 18,545 shares in the last quarter.

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About Pioneer Floating Rate Trust (NYSE:PHD)

Pioneer Floating Rate Trust 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.

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