PGIM Floating Rate Income ETF (NYSEARCA:PFRL) Short Interest Update

PGIM Floating Rate Income ETF (NYSEARCA:PFRL) was the target of a large decrease in short interest in March. As of March 13th, there was short interest totaling 14,526 shares, a decrease of 54.0% from the February 26th total of 31,578 shares. Based on an average daily trading volume, of 12,287 shares, the short-interest ratio is currently 1.2 days. Approximately 0.7% of the company’s shares are sold short.

PGIM Floating Rate Income ETF Stock Performance

PGIM Floating Rate Income ETF stock traded down $0.10 during mid-day trading on Friday, hitting $48.78. 24,335 shares of the company’s stock were exchanged, compared to its average volume of 13,289. The company’s 50 day simple moving average is $49.24 and its 200-day simple moving average is $49.63. PGIM Floating Rate Income ETF has a fifty-two week low of $45.19 and a fifty-two week high of $50.48.

PGIM Floating Rate Income ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, March 2nd were issued a $0.2255 dividend. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Monday, March 2nd.

Hedge Funds Weigh In On PGIM Floating Rate Income ETF

Institutional investors have recently modified their holdings of the business. Envestnet Asset Management Inc. bought a new stake in PGIM Floating Rate Income ETF during the 3rd quarter worth approximately $228,000. Tactive Advisors LLC bought a new position in PGIM Floating Rate Income ETF in the second quarter valued at approximately $285,000. Kestra Advisory Services LLC lifted its stake in PGIM Floating Rate Income ETF by 8.8% in the fourth quarter. Kestra Advisory Services LLC now owns 6,706 shares of the company’s stock valued at $333,000 after buying an additional 540 shares in the last quarter. Inspire Advisors LLC boosted its holdings in shares of PGIM Floating Rate Income ETF by 2.9% in the third quarter. Inspire Advisors LLC now owns 7,250 shares of the company’s stock valued at $363,000 after buying an additional 205 shares during the period. Finally, Summit Financial LLC acquired a new position in shares of PGIM Floating Rate Income ETF in the fourth quarter valued at approximately $365,000.

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.