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Pioneer Floating Rate Fund (NYSE: PHD) and Pioneer Municipal High Income Opportunities Fund have issued their March 2025 distribution notices under Section 19(a). The funds provide estimates of distribution sources including Net Investment Income, Net Realized Short-Term Capital Gains, Net Realized Long-Term Capital Gains, and Return of Capital.
The notice emphasizes that investors should not draw immediate conclusions about fund performance from these distributions, as portions may represent return of capital rather than income or realized gains. A return of capital occurs when invested money is returned to investors and shouldn't be considered as yield or income.
Both closed-end funds trade on the NYSE under symbols PHD and MIO. Unlike open-end funds, these closed-end funds trade on the open market and may trade below their Net Asset Value (NAV). Distribution rates are not guaranteed and can be affected by various factors, including changes in investment income and undistributed net investment income levels.
Pioneer High Income Fund (PHT) and its sister funds announced the postponement of their Special Meeting of Stockholders originally scheduled for March 26, 2025. The delay aims to provide shareholders additional time to vote on the proposal.
The record date remains February 4, 2025 for stockholders entitled to vote. The funds encourage shareholders to submit their votes in advance using the WHITE proxy card previously distributed, which remains valid despite the date change. The rescheduled meeting details will be announced later.
Shareholders can access the proxy statement and related materials at https://vote.proxyonline.com/Amundi/docs. The funds emphasize that physical attendance is not required for voting participation.
Pioneer Floating Rate Fund (NYSE: PHD) has announced its November 2024 distribution of $0.0850 per share. The distribution breakdown shows 88.2% ($0.0750) comes from Net Investment Income and 11.8% ($0.0100) from Return of Capital. For the fiscal year to date, cumulative distributions total $1.1025 per share, with 98.4% from Net Investment Income and 1.6% from Return of Capital. The fund trades on the NYSE and reminds investors that distribution rates are not guaranteed and may be affected by various factors.
Pioneer Floating Rate Trust (NYSE: PHD) has announced its distribution amount of $0.0625 per share for January, which is entirely sourced from net investment income, accounting for 100% of the distribution. This fiscal year to date, the cumulative distribution per share stands at $0.1250, with net investment income contributing 95.4%. The trust indicates that a portion of the distribution may be classified as a return of capital, which does not reflect investment performance. The announced figures are not final for tax reporting and may change based on future investment performance.
Pioneer Floating Rate Trust (NYSE: PHD) has concluded its tender offer for up to 50% of its outstanding common shares, expiring on December 22, 2020. The Fund accepted 12,369,087 shares, approximately 50% of its total shares, at a price of $11.0616, which is 98.5% of the net asset value of $11.23 as of December 23, 2020. Due to oversubscription, shares are subject to pro-ration, with 86.4% of the tendered shares accepted. Payments for the accepted shares will occur by December 28, 2020.
Pioneer Floating Rate Trust (NYSE: PHD) has announced the expiration of its tender offer for up to 50% of its outstanding common shares, which concluded on December 22, 2020. Approximately 14,319,731 shares were tendered. Shares accepted in the tender offer will be bought at 98.5% of the net asset value as of December 23, 2020, with payments expected around December 28, 2020. Unaccepted shares will remain outstanding. The Fund aims for current income and capital preservation.
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