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

PGIM Ultra Short Bond ETF (NYSEARCA:PULS) was the target of a large increase in short interest in August. As of August 14th, there was short interest totaling 968,707 shares, an increase of 83.9% from the July 30th total of 526,647 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily volume of 2,272,290 shares, the days-to-cover ratio is presently 0.4 days.

Hedge Funds Weigh In On PGIM Ultra Short Bond ETF

Several large investors have recently made changes to their positions in the business. Cetera Investment Advisers lifted its holdings in PGIM Ultra Short Bond ETF by 56.7% in the first quarter. Cetera Investment Advisers now owns 4,739,085 shares of the company’s stock worth $234,585,000 after acquiring an additional 1,715,376 shares during the last quarter. Bank of America Corp DE lifted its position in PGIM Ultra Short Bond ETF by 17.8% in the second quarter. Bank of America Corp DE now owns 10,923,947 shares of the company’s stock worth $543,576,000 after purchasing an additional 1,647,341 shares during the period. Kensington Asset Management LLC boosted its stake in PGIM Ultra Short Bond ETF by 103.2% during the 1st quarter. Kensington Asset Management LLC now owns 3,226,778 shares of the company’s stock valued at $159,726,000 after purchasing an additional 1,638,630 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in PGIM Ultra Short Bond ETF by 4.3% during the fourth quarter. JPMorgan Chase & Co. now owns 39,410,722 shares of the company’s stock valued at $1,954,378,000 after buying an additional 1,631,142 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of PGIM Ultra Short Bond ETF by 1,051.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,032,581 shares of the company’s stock worth $51,456,000 after purchasing an additional 942,934 shares in the last quarter. 72.71% of the stock is currently owned by hedge funds and other institutional investors.

PGIM Ultra Short Bond ETF Stock Performance

Shares of PGIM Ultra Short Bond ETF stock traded down $0.17 on Monday, hitting $49.54. The stock had a trading volume of 3,296,208 shares, compared to its average volume of 2,732,592. The stock has a 50 day moving average of $49.63 and a 200 day moving average of $49.63. The firm has a market capitalization of $17.36 billion, a P/E ratio of -23.82 and a beta of 0.02. PGIM Ultra Short Bond ETF has a twelve month low of $49.50 and a twelve month high of $49.84.

PGIM Ultra Short Bond ETF Company Profile

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.