Envestnet Asset Management Inc. Has $666,000 Position in Pioneer Floating Rate Trust (NYSE:PHD)

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Envestnet Asset Management Inc. boosted its position in Pioneer Floating Rate Trust (NYSE:PHD) by 18.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,991 shares of the investment management company’s stock after purchasing an additional 11,043 shares during the period. Envestnet Asset Management Inc.’s holdings in Pioneer Floating Rate Trust were worth $666,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fondren Management LP acquired a new position in Pioneer Floating Rate Trust in the 1st quarter worth about $77,000. UBS Group AG increased its holdings in Pioneer Floating Rate Trust by 12.2% in the 4th quarter. UBS Group AG now owns 13,998 shares of the investment management company’s stock worth $154,000 after purchasing an additional 1,523 shares in the last quarter. Mid Atlantic Financial Management Inc. ADV increased its holdings in Pioneer Floating Rate Trust by 16.1% in the 1st quarter. Mid Atlantic Financial Management Inc. ADV now owns 15,900 shares of the investment management company’s stock worth $122,000 after purchasing an additional 2,200 shares in the last quarter. RMB Capital Management LLC acquired a new position in Pioneer Floating Rate Trust in the 1st quarter worth about $134,000. Finally, Advisor Group Holdings Inc. acquired a new position in Pioneer Floating Rate Trust in the 1st quarter worth about $300,000.

Shares of PHD stock opened at $9.69 on Friday. The stock has a 50-day moving average of $9.55 and a 200-day moving average of $9.44. Pioneer Floating Rate Trust has a 1-year low of $5.80 and a 1-year high of $11.21.

The business also recently declared a monthly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, July 21st were paid a $0.06 dividend. The ex-dividend date was Monday, July 20th. This represents a $0.72 annualized dividend and a dividend yield of 7.43%.

In related news, major shareholder Saba Capital Management, L.P. purchased 150,569 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $8.44 per share, with a total value of $1,270,802.36. In the last three months, insiders bought 2,370,003 shares of company stock valued at $22,179,328.

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.

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Want to see what other hedge funds are holding PHD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pioneer Floating Rate Trust (NYSE:PHD).

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

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