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home / news releases / PHD - Fund Spotlight: Reasons I Have Been Buying PHD

PHD - Fund Spotlight: Reasons I Have Been Buying PHD

Pioneer Floating Rate Trust Shares of Beneficial Interest
  • PHD is a junkier floating rate loan fund that has been attacked by Saba for the last year or more.
  • Saba had collected almost a quarter of the outstanding shares of the fund and began an activist push in August.
  • Pioneer and Saba came to an agreement at the end of August for a 50% tender offer at a 1.5% discount.
  • For those who like floating rate funds here - like me - this is a good kicker to owning the space.

For further details see:

Fund Spotlight: Reasons I Have Been Buying PHD
Stock Information
Company Name: Pioneer Floating Rate Trust Shares of Beneficial Interest
Stock Symbol: PHD
Market: NYSE
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