Guggenheim Capital LLC Sells 91,576 Shares of Pioneer Floating Rate Trust (NYSE:PHD)

Guggenheim Capital LLC lessened its stake in Pioneer Floating Rate Trust (NYSE:PHD) by 18.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 413,436 shares of the investment management company’s stock after selling 91,576 shares during the quarter. Guggenheim Capital LLC’s holdings in Pioneer Floating Rate Trust were worth $4,535,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Investment Advisors LLC increased its holdings in Pioneer Floating Rate Trust by 9.6% in the fourth quarter. Capital Investment Advisors LLC now owns 603,103 shares of the investment management company’s stock valued at $6,616,000 after purchasing an additional 52,701 shares during the last quarter. 6 Meridian increased its holdings in Pioneer Floating Rate Trust by 10.4% in the fourth quarter. 6 Meridian now owns 40,611 shares of the investment management company’s stock valued at $446,000 after purchasing an additional 3,830 shares during the last quarter. Rivernorth Capital Management LLC increased its holdings in Pioneer Floating Rate Trust by 5.2% in the third quarter. Rivernorth Capital Management LLC now owns 735,307 shares of the investment management company’s stock valued at $7,743,000 after purchasing an additional 36,558 shares during the last quarter. Saba Capital Management L.P. increased its holdings in Pioneer Floating Rate Trust by 31.7% in the third quarter. Saba Capital Management L.P. now owns 2,399,737 shares of the investment management company’s stock valued at $25,269,000 after purchasing an additional 577,989 shares during the last quarter. Finally, Trustcore Financial Services LLC increased its holdings in Pioneer Floating Rate Trust by 23.7% in the fourth quarter. Trustcore Financial Services LLC now owns 106,482 shares of the investment management company’s stock valued at $1,168,000 after purchasing an additional 20,401 shares during the last quarter.

In other Pioneer Floating Rate Trust news, major shareholder Saba Capital Management, L.P. purchased 7,931 shares of the stock in a transaction on Thursday, January 9th. The stock was bought at an average cost of $10.95 per share, for a total transaction of $86,844.45. Insiders acquired 434,632 shares of company stock valued at $3,734,888 over the last 90 days.

NYSE PHD opened at $7.81 on Thursday. Pioneer Floating Rate Trust has a 12 month low of $5.80 and a 12 month high of $11.21. The stock has a 50-day simple moving average of $9.96 and a 200 day simple moving average of $10.48.

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 18th will be issued a $0.063 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.76 annualized dividend and a dividend yield of 9.68%.

Pioneer Floating Rate Trust 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.

Further Reading: What is a Fiduciary?

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

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