Short Interest in PGIM Floating Rate Income ETF (NYSEARCA:PFRL) Drops By 31.6%

PGIM Floating Rate Income ETF (NYSEARCA:PFRL) was the target of a large drop in short interest in January. As of January 30th, there was short interest totaling 10,332 shares, a drop of 31.6% from the January 15th total of 15,114 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average trading volume of 11,681 shares, the short-interest ratio is currently 0.9 days. Based on an average trading volume of 11,681 shares, the short-interest ratio is currently 0.9 days. Currently, 0.5% of the shares of the stock are short sold.

Institutional Trading of PGIM Floating Rate Income ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Inspire Advisors LLC increased its position in shares of PGIM Floating Rate Income ETF by 2.9% during the third quarter. Inspire Advisors LLC now owns 7,250 shares of the company’s stock worth $363,000 after buying an additional 205 shares during the period. Kestra Advisory Services LLC boosted its position in PGIM Floating Rate Income ETF by 8.8% during the fourth quarter. Kestra Advisory Services LLC now owns 6,706 shares of the company’s stock valued at $333,000 after acquiring an additional 540 shares during the last quarter. Sheets Smith Wealth Management grew its holdings in PGIM Floating Rate Income ETF by 3.5% during the 4th quarter. Sheets Smith Wealth Management now owns 19,577 shares of the company’s stock worth $973,000 after acquiring an additional 664 shares during the period. MML Investors Services LLC grew its holdings in PGIM Floating Rate Income ETF by 3.5% during the 2nd quarter. MML Investors Services LLC now owns 21,538 shares of the company’s stock worth $1,080,000 after acquiring an additional 722 shares during the period. Finally, Moody National Bank Trust Division raised its position in shares of PGIM Floating Rate Income ETF by 1.0% in the 3rd quarter. Moody National Bank Trust Division now owns 126,362 shares of the company’s stock worth $6,335,000 after acquiring an additional 1,193 shares in the last quarter.

PGIM Floating Rate Income ETF Stock Up 0.0%

NYSEARCA PFRL traded up $0.01 during trading on Monday, hitting $49.39. 9,363 shares of the company’s stock were exchanged, compared to its average volume of 15,695. The stock’s 50 day moving average price is $49.69 and its two-hundred day moving average price is $49.86. PGIM Floating Rate Income ETF has a fifty-two week low of $45.19 and a fifty-two week high of $50.65.

PGIM Floating Rate Income ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, February 4th. Stockholders of record on Monday, February 2nd were issued a dividend of $0.2407 per share. The ex-dividend date was Monday, February 2nd. This represents a c) annualized dividend and a dividend yield of 5.8%.

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.