PGIM Floating Rate Income ETF (NYSEARCA:PFRL) Short Interest Up 259.3% in February

PGIM Floating Rate Income ETF (NYSEARCA:PFRL) was the recipient of a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 37,118 shares, a growth of 259.3% from the January 29th total of 10,332 shares. Based on an average daily trading volume, of 11,496 shares, the days-to-cover ratio is presently 3.2 days. Currently, 1.7% of the company’s shares are short sold. Currently, 1.7% of the company’s shares are short sold. Based on an average daily trading volume, of 11,496 shares, the days-to-cover ratio is presently 3.2 days.

PGIM Floating Rate Income ETF Stock Performance

PFRL opened at $48.95 on Friday. PGIM Floating Rate Income ETF has a 12 month low of $45.19 and a 12 month high of $50.56. The business has a 50-day moving average of $49.59 and a two-hundred day moving average of $49.81.

PGIM Floating Rate Income ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, February 4th. Investors of record on Monday, February 2nd were given a $0.2407 dividend. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend was Monday, February 2nd.

Institutional Investors Weigh In On PGIM Floating Rate Income ETF

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

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.