PGIM Active High Yield Bond ETF (NYSEARCA:PHYL) Sees Large Volume Increase – Still a Buy?

Shares of PGIM Active High Yield Bond ETF (NYSEARCA:PHYL) saw unusually-high trading volume on Friday. 480,057 shares were traded during trading, an increase of 142% from the previous session’s volume of 198,288 shares. The stock last traded at $33.5950 and had previously closed at $33.62.

PGIM Active High Yield Bond ETF Stock Down 0.1%

The firm’s fifty day simple moving average is $34.38 and its 200-day simple moving average is $34.78. The firm has a market capitalization of $1.42 billion, a PE ratio of 2.48 and a beta of 0.41.

Hedge Funds Weigh In On PGIM Active High Yield Bond ETF

A number of hedge funds have recently added to or reduced their stakes in the company. Veracity Capital LLC boosted its stake in PGIM Active High Yield Bond ETF by 27.0% during the 3rd quarter. Veracity Capital LLC now owns 22,590 shares of the company’s stock valued at $755,000 after purchasing an additional 4,797 shares during the last quarter. KFA Private Wealth Group LLC raised its stake in shares of PGIM Active High Yield Bond ETF by 9.3% in the third quarter. KFA Private Wealth Group LLC now owns 158,199 shares of the company’s stock worth $5,289,000 after purchasing an additional 13,514 shares during the last quarter. PFW Advisors LLC lifted its holdings in shares of PGIM Active High Yield Bond ETF by 1.2% during the third quarter. PFW Advisors LLC now owns 67,987 shares of the company’s stock valued at $2,273,000 after purchasing an additional 803 shares in the last quarter. Mendota Financial Group LLC lifted its holdings in shares of PGIM Active High Yield Bond ETF by 32.9% during the third quarter. Mendota Financial Group LLC now owns 37,235 shares of the company’s stock valued at $1,245,000 after purchasing an additional 9,219 shares in the last quarter. Finally, First Citizens Financial Corp boosted its position in shares of PGIM Active High Yield Bond ETF by 6.1% during the third quarter. First Citizens Financial Corp now owns 78,035 shares of the company’s stock valued at $2,609,000 after buying an additional 4,454 shares during the last quarter.

About PGIM Active High Yield Bond ETF

The PGIM Active High Yield Bond ETF (PHYL) is an exchange-traded fund that is based on the Bloomberg US High Yield Very Liquid index. The fund is an actively managed portfolio of high yield bonds. The fund seeks total return. PHYL was launched on Sep 24, 2018 and is managed by PGIM.