Short Interest in PGIM Floating Rate Income ETF (NYSEARCA:PFRL) Rises By 259.3%

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

PGIM Floating Rate Income ETF Trading Down 0.5%

PFRL stock traded down $0.24 during midday trading on Thursday, reaching $49.13. 1,021 shares of the company’s stock traded hands, compared to its average volume of 14,001. The company has a 50-day moving average price of $49.63 and a two-hundred day moving average price of $49.82. PGIM Floating Rate Income ETF has a 52 week low of $45.19 and a 52 week high of $50.56.

PGIM Floating Rate Income ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, February 4th. Investors of record on Monday, February 2nd were issued a dividend of $0.2407 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a c) dividend on an annualized basis and a yield of 5.9%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. bought a new position in shares of PGIM Floating Rate Income ETF in the 3rd quarter worth $228,000. Tactive Advisors LLC purchased a new position in PGIM Floating Rate Income ETF in the second quarter worth $285,000. Kestra Advisory Services LLC increased 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 acquiring an additional 540 shares during the last quarter. Inspire Advisors LLC increased its stake in 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 acquiring an additional 205 shares during the last quarter. Finally, Summit Financial LLC purchased a new stake in PGIM Floating Rate Income ETF during the fourth quarter valued at about $365,000.

PGIM Floating Rate Income ETF Company Profile

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.