Pioneer Floating Rate Fund, Inc. (PHD) Stock Analysis
DELISTED 2025
What happened to Pioneer Floating Rate Fund, Inc. (PHD) stock?
Pioneer Floating Rate Fund, Inc. (PHD) no longer trades on public markets. It was delisted in October 2025. The figures below are historical and are not a current quote.
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Pioneer Floating Rate Fund, Inc. (PHD) trades at $9.95. Pioneer Floating Rate Fund, Inc. is a closed-end investment fund specializing in senior secured floating-rate loans within the U. S. Market cap: $123M, Sector: Financial services.
Last analyzed: Mar 18, 2026Analyst Coverage for PHD: PHD does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates PHD against Financial Services peers across nine fundamental dimensions and assigns a neutral fundamental signal based on the underlying data.
PHD: the 2 scored disciplines are evenly split. Dominant signal: Ken Griffin bearish.
How is this calculated? →Pioneer Floating Rate Fund, Inc. (PHD) Financial Services Profile
Pioneer Floating Rate Fund, Inc. is a U.S.-based closed-end fund focused on generating income through investments in senior secured floating-rate loans. Managed by Pioneer Investment Management, the fund benchmarks its performance against the Barclays U.S. High Yield Loans Index, catering to investors seeking exposure to the fixed income market.
What Is the Investment Thesis for PHD?
Pioneer Floating Rate Fund, Inc. presents an investment opportunity for income-seeking investors looking for exposure to senior secured floating-rate loans. The fund's focus on floating-rate instruments offers a hedge against rising interest rates, a key consideration in the current economic environment. With a dividend yield of 3.02% and a profit margin of 50.2%, the fund demonstrates its ability to generate income and manage expenses effectively. The fund's beta of 0.37 suggests lower volatility compared to the broader market, potentially appealing to risk-averse investors. Upcoming: Continued focus on senior secured floating-rate loans may drive stable income. Potential: Changes in interest rate policies could impact fund performance.
Based on FMP financials and quantitative analysis
PHD Key Highlights
Market capitalization of $123M indicates the fund's size and market presence.
- P/E ratio of 14.74 suggests a reasonable valuation relative to earnings.
- Profit margin of 50.2% demonstrates efficient management and profitability.
- Gross margin of 100.0% reflects the fund's revenue generation from its investment activities.
- Dividend yield of 3.02% provides income to investors.
Who Are PHD's Competitors?
PHD is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| CLSHX CLS Shelter Fund | $12.39 | +0.00% | $125M | 44 |
| DCF BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. | $9.24 | +0.00% | $139M | 41 |
| HNW Pioneer Diversified High Income Fund, Inc. | $12.80 | +0.08% | $107M | 45 |
| JEMD Nuveen Emerging Markets Debt 2022 Target Term Fund | $6.63 | -0.05% | $94.5M | 45 |
| JSD Nuveen Short Duration Credit Opportunities Fund | $11.60 | +0.87% | $117M | 45 |
| TPZ Tortoise Electrification Infrastructure ETF | $21.62 | -0.18% | $127M | 70 |
| CHECU Chenghe Acquisition III Co. Units | $10.25 | +0.39% | $134M | 67 |
| WHF WhiteHorse Finance, Inc. | $7.26 | +2.98% | $156M | 90 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are PHD's Key Strengths?
Experienced management team with expertise in floating-rate loans.
- Stable capital base due to the closed-end fund structure.
- High profit margin of 50.2% indicates efficient operations.
- Provides a hedge against rising interest rates.
What Are PHD's Weaknesses?
Small market capitalization of $123M may limit liquidity.
- Dependence on the performance of the floating-rate loan market.
- Vulnerability to credit risk associated with underlying loans.
- Limited geographic diversification.
What Could Drive PHD Stock Higher?
Continued demand for floating-rate loans as a hedge against rising interest rates.
- Active management of the portfolio to optimize returns and manage risk.
- Potential for increased investment in ESG-compliant floating-rate loans.
- Strategic partnerships with institutional investors to expand distribution.
What Are the Key Risks for PHD?
Financial-distress signal — its Altman Z-Score of 1.15 sits in the distress zone (elevated bankruptcy risk).
- Rising interest rates could negatively impact loan values.
- Economic downturn could lead to loan defaults.
- Increased competition from other asset managers.
- Credit risk associated with underlying loans.
- Dependence on the performance of the floating-rate loan market.
What Are the Growth Opportunities for PHD?
- Expansion into new floating-rate loan sectors: The fund could explore opportunities in niche sectors within the floating-rate loan market, such as infrastructure or renewable energy, to enhance diversification and potentially generate higher returns. The market for infrastructure debt is projected to reach $1.2 trillion by 2030, presenting a significant growth opportunity. Timeline: 2027-2028.
- Increased focus on ESG-compliant floating-rate loans: With growing investor interest in environmental, social, and governance (ESG) factors, the fund could increase its allocation to floating-rate loans issued by companies with strong ESG profiles. Timeline: Ongoing.
- Strategic partnerships with institutional investors: The fund could forge strategic partnerships with institutional investors, such as pension funds and insurance companies, to expand its distribution network and increase assets under management. Institutional investors are increasingly allocating capital to alternative credit strategies, including floating-rate loans. Timeline: 2026-2027.
- Development of new investment products: Pioneer Floating Rate Fund, Inc. could leverage its expertise in floating-rate loans to develop new investment products, such as exchange-traded funds (ETFs) or separately managed accounts (SMAs), to cater to a wider range of investors. Timeline: 2028-2029.
- Geographic expansion into international floating-rate loan markets: The fund could explore opportunities to invest in floating-rate loans issued by companies in developed and emerging markets outside the United States. The global floating-rate loan market is estimated to be worth over $2 trillion, offering significant diversification opportunities. Timeline: 2029-2030.
What Are PHD's Competitive Advantages?
- Established track record in managing floating-rate loan portfolios.
- Expertise in credit analysis and loan selection.
- Access to a network of loan originators and market participants.
- Stable capital base due to the closed-end fund structure.
What Does PHD Do?
Pioneer Floating Rate Fund, Inc., established on October 6, 2004, is a closed-end fixed income mutual fund managed by Pioneer Investment Management, Inc. The fund's primary investment strategy involves allocating capital to the U.S. fixed income market, specifically targeting senior secured floating-rate loans. These loans, often referred to as leveraged loans or bank loans, are characterized by interest rates that adjust periodically based on a benchmark, such as LIBOR or SOFR. This feature provides a hedge against rising interest rates, making the fund attractive to investors concerned about inflation and interest rate risk. The fund's investment objective is to generate current income, and it seeks to achieve this by constructing a portfolio of floating-rate loans diversified across various industries and issuers. The fund benchmarks its performance against the Barclays U.S. High Yield Loans Index, a widely recognized benchmark for the floating-rate loan market. Pioneer Floating Rate Fund, Inc. is domiciled in the United States and offers investors a way to access the floating-rate loan market through a professionally managed investment vehicle. The fund's structure as a closed-end fund allows it to maintain a stable pool of capital, enabling it to invest in less liquid securities and potentially enhance returns.
What Products and Services Does PHD Offer?
- Invests in senior secured floating-rate loans.
- Manages a closed-end fixed income mutual fund.
- Benchmarks performance against the Barclays U.S. High Yield Loans Index.
- Generates income for investors through fixed-income investments.
- Operates within the U.S. fixed income market.
- Provides exposure to the floating-rate loan market.
How Does PHD Make Money?
- Generates revenue through interest income from floating-rate loans.
- Manages assets on behalf of investors in the closed-end fund.
- Charges management fees for its services.
- Distributes income to shareholders through dividends.
What Industry Does PHD Operate In?
Pioneer Floating Rate Fund, Inc. operates within the asset management industry, specifically focusing on fixed-income investments. The asset management industry is characterized by intense competition, with firms vying for investor capital through diverse investment strategies. The market for floating-rate loans has grown significantly in recent years, driven by investor demand for income-generating assets and protection against rising interest rates. Pioneer Floating Rate Fund, Inc. competes with other closed-end funds and investment vehicles that offer exposure to the floating-rate loan market.
Who Are PHD's Key Customers?
- Individual investors seeking income.
- Institutional investors looking for fixed-income exposure.
- Retirement savers seeking diversification.
- Wealth management clients.
Financial Health
Pioneer Floating Rate Fund, Inc.'s Piotroski F-Score is 5/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 1.15 places it in the distress zone, a signal of elevated financial risk.
PHD Financials
Bull Case vs Bear Case
Bull Case
- Insider activity has shown increased buying, indicating confidence from management in the company's future prospects.
- Recent community sentiment has turned positive, with discussions highlighting the fund's ability to navigate rising interest rates effectively.
- Investors are increasingly viewing floating rate funds as a hedge against inflation, boosting interest in PHD as a viable option.
- Market perception has shifted towards favoring income-generating investments, aligning well with PHD's strategy.
Bear Case
- Concerns over potential economic downturns have led some investors to question the sustainability of income from floating rate assets.
- There is a growing bearish sentiment in trading communities, with discussions focusing on the risks associated with rising defaults in the credit market.
- The recent volatility in interest rates has created uncertainty, leading some to doubt the fund's ability to maintain consistent returns.
- Some analysts believe that competition in the floating rate space is intensifying, which could impact PHD's market share.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
PHD Latest News
No recent news available for PHD.
Leadership: Mark Kiyoshi Okada
CEO
Mark Kiyoshi Okada serves as the CEO of Pioneer Floating Rate Fund, Inc. His background encompasses extensive experience in asset management and fixed-income investments. He has held various leadership positions within Pioneer Investment Management, Inc., demonstrating expertise in portfolio management, credit analysis, and investment strategy. His career reflects a deep understanding of the financial markets and a commitment to delivering value to shareholders. He is responsible for overseeing the fund's investment activities and ensuring compliance with regulatory requirements.
Track Record: Under Mark Kiyoshi Okada's leadership, Pioneer Floating Rate Fund, Inc. has maintained a consistent focus on generating income through investments in senior secured floating-rate loans. He has overseen the fund's asset allocation strategy and risk management practices. The fund has consistently benchmarked its performance against the Barclays U.S. High Yield Loans Index. He has focused on maintaining a stable capital base and delivering dividends to shareholders.
Common Questions About PHD (Financial Services)
What happened to Pioneer Floating Rate Fund, Inc. (PHD) stock?
Pioneer Floating Rate Fund, Inc. (PHD) no longer trades on public markets. It was delisted in October 2025. The figures below are historical and are not a current quote.
Can I still buy PHD shares?
No. PHD stopped trading on public markets in October 2025, so the shares are not available through a broker. Anything you see quoted for PHD elsewhere is historical data, not a live market.
Are the figures on this page current?
No. Every number here is the last value recorded before PHD stopped trading. Nothing on this page updates, and none of it is a current quote.
Why does this page still exist?
Because people still search for what happened to Pioneer Floating Rate Fund, Inc.. An archived profile that states the delisting plainly is more useful than a dead link — provided it is labelled as history, which is what this page does.
What does Pioneer Floating Rate Fund, Inc. do?
Pioneer Floating Rate Fund, Inc. is a closed-end investment fund that specializes in investing in senior secured floating-rate loans. These loans are typically issued by corporations and have interest rates that adjust periodically based on a benchmark, such as LIBOR or SOFR.
What do analysts say about PHD stock?
Analyst coverage of Pioneer Floating Rate Fund, Inc. typically focuses on its ability to generate income and manage credit risk within its floating-rate loan portfolio. Key valuation metrics include the fund's net asset value (NAV), dividend yield, and discount or premium to NAV. Analysts also consider the fund's expense ratio and its performance relative to its benchmark, the Barclays U.S.
What are the main risks for PHD?
Pioneer Floating Rate Fund, Inc. faces several risks, including credit risk, interest rate risk, and liquidity risk. Credit risk refers to the possibility that borrowers may default on their loan obligations, leading to losses for the fund. Interest rate risk arises from the potential for rising interest rates to negatively impact loan values and reduce investor demand for the fund.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Information is based on available data and may be subject to change.
- AI analysis is pending and may provide additional insights.