Short Interest in PGIM Floating Rate Income ETF (NYSEARCA:PFRL) Increases By 76.1%

PGIM Floating Rate Income ETF (NYSEARCA:PFRL) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totaling 4,413 shares, a growth of 76.1% from the April 30th total of 2,506 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily volume of 8,423 shares, the short-interest ratio is currently 0.5 days.

Institutional Investors Weigh In On PGIM Floating Rate Income ETF

A number of hedge funds have recently bought and sold shares of the company. Moody National Bank Trust Division boosted its holdings in PGIM Floating Rate Income ETF by 2.8% during the fourth quarter. Moody National Bank Trust Division now owns 129,955 shares of the company’s stock valued at $6,456,000 after acquiring an additional 3,593 shares during the period. Kestra Private Wealth Services LLC grew its stake in shares of PGIM Floating Rate Income ETF by 10.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 78,754 shares of the company’s stock valued at $3,913,000 after purchasing an additional 7,313 shares during the last quarter. Jane Street Group LLC grew its stake in shares of PGIM Floating Rate Income ETF by 1,144.6% during the first quarter. Jane Street Group LLC now owns 50,381 shares of the company’s stock valued at $2,515,000 after purchasing an additional 46,333 shares during the last quarter. Mariner LLC boosted its stake in PGIM Floating Rate Income ETF by 116.3% in the fourth quarter. Mariner LLC now owns 36,466 shares of the company’s stock valued at $1,812,000 after acquiring an additional 19,608 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new stake in PGIM Floating Rate Income ETF in the fourth quarter worth $1,409,000.

PGIM Floating Rate Income ETF Stock Down 0.2%

PFRL stock traded down $0.08 during mid-day trading on Tuesday, reaching $49.38. 17,932 shares of the stock traded hands, compared to its average volume of 12,278. PGIM Floating Rate Income ETF has a 52 week low of $48.60 and a 52 week high of $50.48. The business has a 50-day moving average of $49.25 and a two-hundred day moving average of $49.43.

About PGIM Floating Rate Income ETF

The PGIM Floating Rate Income ETF (PFRL) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that aims for current income by investing mainly in senior floating rate loans of any credit quality from around the world. PFRL was launched on May 17, 2022 and is managed by PGIM.