What is the expected timeline and distribution amount for shareholders after the fund's liquidation?

Timeline – The special meeting to approve the liquidation was originally set for July 17 2025 but was subsequently adjourned several times, with the final meeting now scheduled for August 25 2025. Under the Plan of Liquidation and Dissolution, the fund will begin winding down its portfolio immediately after that date. In practice, most closed‑end funds complete the cash‑out process within 30‑45 days of the final vote, so shareholders can reasonably expect the first (and final) distribution to be paid by late September 2025.

Distribution amount – The release does not disclose a specific per‑share payout. As with other fund liquidations, the distribution will be calculated on the net asset value (NAV) per share at the time the assets are sold, less any liquidation expenses. Investors should watch for a forthcoming “Distribution Notice” from Pioneer Floating Rate Fund that will state the exact cash amount per share once the portfolio liquidation is complete.

Trading implications – From a market‑technical standpoint, the ticker PHD will trade on liquidation‑driven price compression, likely sliding toward the cash value of the pending distribution and then to zero once the fund is delisted. Traders holding the stock should stay flat and simply wait for the cash payout, while short‑term speculators can consider exiting now to avoid the inevitable price collapse. Institutional investors should also monitor any tax‑efficiency notices, as the cash distribution will be treated as a capital‑gain event for shareholders.