Pioneer Floating Rate Trust (PHD) : Financial Investment Management Group Ltd reduced its stake in Pioneer Floating Rate Trust by 0.98% during the most recent quarter end. The investment management company now holds a total of 474,791 shares of Pioneer Floating Rate Trust which is valued at $5,498,080 after selling 4,675 shares in Pioneer Floating Rate Trust , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Pioneer Floating Rate Trust makes up approximately 1.86% of Financial Investment Management Group Ltd’s portfolio.
Other Hedge Funds, Including , Creative Planning sold out all of its stake in PHD during the most recent quarter. The investment firm sold 600 shares of PHD which is valued $7,032.Gradient Investments boosted its stake in PHD in the latest quarter, The investment management firm added 37,788 additional shares and now holds a total of 354,741 shares of Pioneer Floating Rate Trust which is valued at $4,136,280. Pioneer Floating Rate Trust makes up approx 0.41% of Gradient Investments’s portfolio.
Pioneer Floating Rate Trust opened for trading at $11.62 and hit $11.6277 on the upside on Friday, eventually ending the session at $11.58, with a gain of 0.09% or 0.01 points. The heightened volatility saw the trading volume jump to 31,678 shares. Company has a market cap of $261 M.
Pioneer Floating Rate Trust is a closed-end management investment company. The Trust is a diversified fund. The Funds objective is to provide a high level of current income. The Fund as a secondary objective also seeks preservation of capital to the extent consistent with its primary objective of high current income. It invests primarily in senior loans. The Fund may also invest in other floating and variable rate instruments including second lien loans investment grade fixed-income debt securities and high yield high risk corporate bonds. The Fund may also invest in below investment grade securities. It may use leverage through the issuance of preferred shares with an aggregate liquidation preference of up to 33 1/3% of the Funds total assets after such issuance. Pioneer Investment Management Inc serves as the investment adviser to the Fund.