Virtus ETF Advisers LLC acquired a new stake in Pioneer Floating Rate Trust (NYSE:PHD) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 245,696 shares of the investment management company’s stock, valued at approximately $2,626,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC grew its stake in shares of Pioneer Floating Rate Trust by 126.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 53,697 shares of the investment management company’s stock valued at $574,000 after purchasing an additional 29,939 shares during the period. Envestnet Asset Management Inc. grew its position in Pioneer Floating Rate Trust by 112.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 53,100 shares of the investment management company’s stock worth $568,000 after acquiring an additional 28,147 shares during the last quarter. Zazove Associates LLC grew its position in Pioneer Floating Rate Trust by 946.1% during the 2nd quarter. Zazove Associates LLC now owns 500,000 shares of the investment management company’s stock worth $511,000 after acquiring an additional 452,202 shares during the last quarter. PenderFund Capital Management Ltd. increased its holdings in Pioneer Floating Rate Trust by 607.9% during the 2nd quarter. PenderFund Capital Management Ltd. now owns 707,934 shares of the investment management company’s stock valued at $2,856,000 after purchasing an additional 607,934 shares in the last quarter. Finally, Park Avenue Securities LLC increased its holdings in Pioneer Floating Rate Trust by 14.3% during the 2nd quarter. Park Avenue Securities LLC now owns 25,431 shares of the investment management company’s stock valued at $272,000 after purchasing an additional 3,184 shares in the last quarter.

PHD traded down $0.03 during trading on Thursday, hitting $10.52. The company’s stock had a trading volume of 33,768 shares, compared to its average volume of 81,000. The firm’s 50 day moving average price is $10.44 and its two-hundred day moving average price is $10.54. Pioneer Floating Rate Trust has a 12 month low of $9.56 and a 12 month high of $11.13.

The firm also recently announced a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th will be issued a dividend of $0.063 per share. This represents a $0.76 annualized dividend and a dividend yield of 7.19%. The ex-dividend date is Tuesday, September 17th.

Pioneer Floating Rate Trust Company Profile

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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Institutional Ownership by Quarter for Pioneer Floating Rate Trust (NYSE:PHD)

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