Relative Value Partners Group LLC Sells 16,727 Shares of Pioneer Floating Rate Trust (NYSE:PHD)

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Relative Value Partners Group LLC decreased its position in shares of Pioneer Floating Rate Trust (NYSE:PHD) by 1.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,389,070 shares of the investment management company’s stock after selling 16,727 shares during the quarter. Pioneer Floating Rate Trust comprises 1.5% of Relative Value Partners Group LLC’s holdings, making the stock its 25th largest holding. Relative Value Partners Group LLC’s holdings in Pioneer Floating Rate Trust were worth $14,446,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RMB Capital Management LLC increased its holdings in shares of Pioneer Floating Rate Trust by 113.3% during the fourth quarter. RMB Capital Management LLC now owns 183,552 shares of the investment management company’s stock valued at $1,806,000 after acquiring an additional 97,481 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Pioneer Floating Rate Trust by 345.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,900 shares of the investment management company’s stock valued at $88,000 after acquiring an additional 6,900 shares in the last quarter. PenderFund Capital Management Ltd. bought a new stake in shares of Pioneer Floating Rate Trust during the first quarter valued at approximately $1,417,000. Element Pointe Advisors LLC bought a new stake in shares of Pioneer Floating Rate Trust during the fourth quarter valued at approximately $229,000. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of Pioneer Floating Rate Trust by 11.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 81,971 shares of the investment management company’s stock valued at $807,000 after acquiring an additional 8,512 shares in the last quarter.

Shares of NYSE PHD remained flat at $$10.65 during midday trading on Friday. The stock had a trading volume of 4,054 shares, compared to its average volume of 91,238. Pioneer Floating Rate Trust has a 52-week low of $9.56 and a 52-week high of $11.36.

The company also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 18th will be issued a dividend of $0.0625 per share. This is an increase from Pioneer Floating Rate Trust’s previous monthly dividend of $0.06. The ex-dividend date is Monday, June 17th. This represents a $0.75 annualized dividend and a dividend yield of 7.04%.

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About Pioneer Floating Rate Trust

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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