Pioneer has announced a monthly dividend for five of its income funds. The dividends are payable on Oct. 31 with an ex-dividend date of Oct.17. The funds represent the firm’s closed-end fund offerings.
Pioneer Diversified High Income Trust
The Pioneer Diversified High Income Trust (HNW, Financial) will pay a dividend of 11.5 cents. The fund is trading at $16.38 with a forward dividend yield of 8.42%. Year to date, it has a return of 2.25%. For the one-year period it has gained 0.99%, and for the three-year period it has a return of -19.11%.
The fund primarily invests in fixed-income securities paying high current income. Its investments include bank loans, U.S. high-yield corporates, event-linked bonds, emerging markets, international high-yield bonds, U.S. investment-grade corporates, international investment-grade bonds, commercial mortgage-backed securities, asset-backed securities, convertible bonds and non-agency mortgage-backed securities. As of Aug. 31, it had 28.06% of the portfolio in bank loans and 26.81% in U.S. high-yield corporates. Its top holding was Fixed Income Trust Series 2013-A at 3.05%.
Pioneer Floating Rate Trust
The Pioneer Floating Rate Trust (PHD, Financial) will pay a dividend of six cents. The fund is trading at $11.93 with a forward dividend yield of 6.04%. Year to date, it has a return of 0.51%. For the one-year period it has gained 2.76%, and for the three-year period it has a return of 2.32%.
The fund primarily invests in floating-rate bank loans across all sectors. As of Aug. 31, its top sector was consumer discretionary with 22.10% of the fund’s investments. Its top three holdings were United States Treasury Floating Rate Note 4/30/18 at 1.95%, U.S. Treasury Bills 9/21/17 at 1.23% and Bright Horizons Family Solutions 11/03/23 at 0.74%.
Pioneer High Income Trust
The Pioneer High Income Trust (PHT, Financial) will pay a dividend of 6.5 cents. The fund is trading at $10.03 with a forward dividend yield of 7.78%. Year to date, it has a return of 7.78%. For the one-year period it has a return of -3.74%, and for the three-year period it has a return of -41.55%.
The fund primarily invests in below-investment-grade bonds and convertible securities paying high current income. As of Aug. 31, it had 50.61% of its investments in B-rated securities and 64.46% of the portfolio was invested in U.S. high-yield corporates. Its top investment holdings were The Hanover Insurance Group 7.625% 10/15/25 at 1.51%, U.S. Treasury Bills 9/7/17 at 1.50% and Liberty Mutual Group Floating Rate Note 6/15/58 (144A) at 1.16%.
Pioneer Municipal High Income Advantage Trust
The Pioneer Municipal High Income Advantage Trust (MAV, Financial) will pay a dividend of five cents. The fund is trading at $11.49 with a forward dividend yield of 5.22%. Year to date, it has a return of -2.73%. For the one-year period it has a return of -11.36%, and for the three-year period it has a return of -25.21%.
The fund primarily invests in tax-exempt investments paying high current income. The majority of the fund is invested in municipal securities from across the U.S. As of Aug. 31, its top five sectors were education at 18.6%, health at 17.7%, special revenues at 14.0%, escrowed investments at 11.4% and general obligation investments at 10.9%. Its top three holdings were New Jersey Transportation Trust Fund Authority 12/15/27 at 2.63%, Massachusetts Development Finance Agency 5.75% 1/1/42 at 2.54% and Private Colleges & Universities Authority 5.0% 10/1/43 at 2.34%.
Pioneer Municipal High Income Trust
The Pioneer Municipal High Income Trust (MHI, Financial) will pay a dividend of five cents. The fund is trading at $11.95 with a forward dividend yield of 5.02%. Year to date, it has a return of 0.67%. For the one-year period it has a return of -8.01%, and for the three-year period it has a return of -21.64%.
The fund primarily invests in tax-exempt investments paying high current income. The majority of the fund is also invested in municipal securities from across the U.S. As of Aug. 31, its top five sectors were health at 21.4%, special revenues at 14.1%, education at 10.5%, insured at 10.4% and various revenues at 9.7%.
Disclosure: I do not own any shares of HNW, PHD, PHT, MAV or MHI.
