Apollo Senior Floating Rate Fund Inc. is a closed ended fixed income mutual fund launched and managed by Apollo Credit Management, LLC. The Fund invests in fixed income markets. It primarily invests in senior secured loans made to companies whose debt is rated below investment grade. The Fund employs a conservative approach to credit selection that focuses on collateral coverage, structural seniority, and credit fundamentals, with emphasis on leading defensible market positions, stable companies with positive cash flow, and proven management teams. It benchmarks the performance of its portfolios against the S&P/LSTA Leveraged Loan Index. Apollo Senior Floating Rate Fund Inc. was formed on February 23, 2011 and is domiciled in United States.
Apollo Senior Floating Rate Fund Stock Up 0.7 %
AFT Stock traded up $0.10 during midday trading on Monday, hitting $13.78. The stock had a trading volume of 270 shares, compared to its average volume of 65,783. Apollo Senior Floating Rate Fund has a 52 week low of $12.67 and a 52 week high of $17.20. The stock has a 50-day simple moving average of $13.08 and a 200 day simple moving average of $14.13.
Apollo Senior Floating Rate Fund Increases Dividend
The company also recently announced a monthly dividend, which was paid on Friday, July 29th. Investors of record on Thursday, July 21st were given a $0.092 dividend. This is a boost from Apollo Senior Floating Rate Fund's previous monthly dividend of $0.09. This represents a $1.10 annualized dividend and a yield of 8.01%. The ex-dividend date was Wednesday, July 20th.
Analyst Ratings Changes
Separately, Stifel Nicolaus raised Apollo Senior Floating Rate Fund from a "hold" rating to a "buy" rating in a research report on Tuesday, May 31st.