Northwestern Mutual Wealth Management Co. raised its position in Apollo Senior Floating Rate Fund Inc (NYSE:AFT) by 53.5% during the first quarter, Holdings Channel reports. The institutional investor owned 7,369 shares of the closed-end fund’s stock after buying an additional 2,569 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Apollo Senior Floating Rate Fund were worth $109,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. bought a new position in shares of Apollo Senior Floating Rate Fund in the 4th quarter worth $26,000. Liberty Wealth Management LLC bought a new position in Apollo Senior Floating Rate Fund during the fourth quarter worth about $27,000. Citigroup Inc. raised its stake in shares of Apollo Senior Floating Rate Fund by 100.0% in the 4th quarter. Citigroup Inc. now owns 2,000 shares of the closed-end fund’s stock valued at $29,000 after purchasing an additional 1,000 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Apollo Senior Floating Rate Fund in the 4th quarter valued at about $151,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Apollo Senior Floating Rate Fund in the 1st quarter valued at about $174,000.
NYSE:AFT opened at $15.00 on Friday. Apollo Senior Floating Rate Fund Inc has a 52-week low of $13.92 and a 52-week high of $16.69.
The company also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be issued a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.00%. The ex-dividend date of this dividend is Friday, June 14th.
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About Apollo Senior Floating Rate Fund
Apollo Senior Floating Rate Fund Inc is a closed ended fixed income mutual fund launched and managed by Apollo Credit Management, LLC. The Fund invests in fixed income markets. It primarily invests in senior secured loans made to companies whose debt is rated below investment grade. The Fund employs a conservative approach to credit selection that focuses on collateral coverage, structural seniority, and credit fundamentals, with emphasis on leading defensible market positions, stable companies with positive cash flow, and proven management teams.
Further Reading: What is Liquidity?
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