City of London Investment Management Co. Ltd. cut its stake in shares of Pioneer Floating Rate Trust (NYSE:PHD) by 72.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,436 shares of the investment management company’s stock after selling 129,843 shares during the period. City of London Investment Management Co. Ltd.’s holdings in Pioneer Floating Rate Trust were worth $501,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Pioneer Floating Rate Trust in the fourth quarter valued at approximately $25,000. Hanson McClain Inc. acquired a new stake in Pioneer Floating Rate Trust during the first quarter worth about $26,000. Essex Savings Bank acquired a new stake in Pioneer Floating Rate Trust during the fourth quarter worth about $49,000. PNC Financial Services Group Inc. increased its position 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 during the last quarter. Finally, Round Table Services LLC acquired a new stake in shares of Pioneer Floating Rate Trust during the first quarter valued at about $137,000.
Shares of PHD stock opened at $10.65 on Wednesday. Pioneer Floating Rate Trust has a fifty-two week low of $9.56 and a fifty-two week high of $11.42.
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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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