T. Rowe Price Floating Rate Fund, Inc. (PRFRX)
T. Rowe Price Floating Rate Fund, Inc. operates in the Asset Management industry of the Financial Services sector, headquartered in Baltimore, MD, US. The stock last traded at $9.08, up 0.00% on the session, giving a market capitalisation of $4.01B. On trailing twelve-month figures it carries a trailing P/E of 7.15, a net margin of 81.7%. Its beta of 0.06 implies it has historically moved less than the broad market.
This fund ordinarily deploys a minimum of 80% of its total assets (including any capital obtained through borrowing for investment) into debt instruments with variable interest rates. These floating rate loans represent funds extended by financial institutions and other lenders to corporate borrowers or various entities. The vast majority, if not all, of the loans held by the fund are either classified as below investment grade (typically rated below BBB or an equivalent, often colloquially known as “junk” due to higher risk) or lack an official credit rating from recognized agencies.
T. Rowe Price Floating Rate Fund, Inc. is most often compared with the following Financial Services names: