PGIM Short Duration Multi-Sector Bond ETF (BATS:PSDM) Short Interest Up 81.3% in July

PGIM Short Duration Multi-Sector Bond ETF (BATS:PSDM) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 20,285 shares, a growth of 81.3% from the July 15th total of 11,186 shares. Based on an average daily trading volume, of 34,222 shares, the days-to-cover ratio is presently 0.6 days. Approximately 1.3% of the shares of the company are sold short.

PGIM Short Duration Multi-Sector Bond ETF Stock Performance

Shares of PGIM Short Duration Multi-Sector Bond ETF stock opened at $50.93 on Tuesday. The company’s fifty day simple moving average is $50.93 and its 200-day simple moving average is $51.15. PGIM Short Duration Multi-Sector Bond ETF has a 1 year low of $50.61 and a 1 year high of $52.03.

Hedge Funds Weigh In On PGIM Short Duration Multi-Sector Bond ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in PSDM. Sound Income Strategies LLC bought a new position in PGIM Short Duration Multi-Sector Bond ETF during the first quarter worth about $83,000. Ascentis Independent Advisors bought a new position in shares of PGIM Short Duration Multi-Sector Bond ETF during the 1st quarter worth approximately $398,000. Thoroughbred Financial Services LLC raised its stake in PGIM Short Duration Multi-Sector Bond ETF by 149.0% during the fourth quarter. Thoroughbred Financial Services LLC now owns 11,652 shares of the company’s stock worth $599,000 after acquiring an additional 6,972 shares in the last quarter. Steel Grove Capital Advisors LLC lifted its holdings in shares of PGIM Short Duration Multi-Sector Bond ETF by 76.3% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 68,809 shares of the company’s stock valued at $3,542,000 after acquiring an additional 29,778 shares during the period. Finally, Team Financial Group LLC boosted its stake in shares of PGIM Short Duration Multi-Sector Bond ETF by 5.4% in the 1st quarter. Team Financial Group LLC now owns 200,595 shares of the company’s stock valued at $10,224,000 after purchasing an additional 10,216 shares in the last quarter.

PGIM Short Duration Multi-Sector Bond ETF Company Profile

The PGIM Short Duration Multi-Sector Bond ETF (PSDM) is an exchange-traded fund that mostly invests in broad credit fixed income. PDSM is an actively managed fund that holds a broad range of fixed income instruments with any credit rating, duration, and maturity, while targeting a weighted average maturity of less than or equal to five years. Securities are selected using both top-down analysis and bottom-up research. PSDM was launched on Jul 19, 2023 and is issued by PGIM.