PGIM Ultra Short Bond ETF (NYSEARCA:PULS) Sees Large Increase in Short Interest

PGIM Ultra Short Bond ETF (NYSEARCA:PULS) was the target of a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 1,067,016 shares, an increase of 334.5% from the May 14th total of 245,548 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 2,218,795 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On PGIM Ultra Short Bond ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Anchor Investment Management LLC purchased a new position in shares of PGIM Ultra Short Bond ETF in the 1st quarter valued at approximately $25,000. Flagship Wealth Advisors LLC purchased a new position in shares of PGIM Ultra Short Bond ETF in the 1st quarter valued at approximately $25,000. Sound Income Strategies LLC raised its position in shares of PGIM Ultra Short Bond ETF by 1,346.2% in the 4th quarter. Sound Income Strategies LLC now owns 564 shares of the company’s stock valued at $28,000 after purchasing an additional 525 shares during the last quarter. Turim 21 Investimentos Ltda. purchased a new position in shares of PGIM Ultra Short Bond ETF in the 3rd quarter valued at approximately $30,000. Finally, Rossby Financial LCC purchased a new position in shares of PGIM Ultra Short Bond ETF in the 3rd quarter valued at approximately $31,000. 72.71% of the stock is owned by hedge funds and other institutional investors.

PGIM Ultra Short Bond ETF Stock Performance

PULS stock opened at $49.64 on Friday. The firm has a market cap of $16.45 billion, a price-to-earnings ratio of -23.87 and a beta of 0.02. The firm has a 50-day simple moving average of $49.62 and a two-hundred day simple moving average of $49.66. PGIM Ultra Short Bond ETF has a one year low of $49.50 and a one year high of $49.84.

About PGIM Ultra Short Bond ETF

The PGIM Ultra Short Bond ETF (PULS) is an exchange-traded fund that is based on the ICE BofAML USD Libor 3 Month index. The fund is an actively managed bond fund that specializes in short-term, high-credit-quality debt securities denominated in US dollars. The fund seeks total return that is consistent with capital preservation. PULS was launched on Apr 5, 2018 and is managed by PGIM.