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

PGIM Floating Rate Income ETF (NYSEARCA:PFRL) was the recipient of a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 31,578 shares, a decrease of 14.9% from the February 12th total of 37,118 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 9,219 shares, the days-to-cover ratio is presently 3.4 days. Based on an average daily trading volume, of 9,219 shares, the days-to-cover ratio is presently 3.4 days. Currently, 1.4% of the shares of the stock are sold short.

Institutional Investors Weigh In On PGIM Floating Rate Income ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Moody National Bank Trust Division lifted its position in shares of PGIM Floating Rate Income ETF by 2.8% during the fourth quarter. Moody National Bank Trust Division now owns 129,955 shares of the company’s stock worth $6,456,000 after purchasing an additional 3,593 shares in the last quarter. Kestra Private Wealth Services LLC raised its position in shares of PGIM Floating Rate Income ETF by 10.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 78,754 shares of the company’s stock worth $3,913,000 after acquiring an additional 7,313 shares during the last quarter. Rovin Capital UT ADV lifted its position in PGIM Floating Rate Income ETF by 3.3% during the 3rd quarter. Rovin Capital UT ADV now owns 70,021 shares of the company’s stock valued at $3,510,000 after purchasing an additional 2,207 shares during the period. Jane Street Group LLC boosted its stake in PGIM Floating Rate Income ETF by 1,144.6% in the first quarter. Jane Street Group LLC now owns 50,381 shares of the company’s stock valued at $2,515,000 after acquiring an additional 46,333 shares during the last quarter. Finally, Mariner LLC increased its holdings in PGIM Floating Rate Income ETF by 116.3% in the fourth quarter. Mariner LLC now owns 36,466 shares of the company’s stock valued at $1,812,000 after purchasing an additional 19,608 shares during the last quarter.

PGIM Floating Rate Income ETF Trading Down 0.2%

NYSEARCA:PFRL opened at $48.87 on Monday. PGIM Floating Rate Income ETF has a 1 year low of $45.19 and a 1 year high of $50.48. The firm has a 50 day moving average of $49.41 and a 200-day moving average of $49.71.

PGIM Floating Rate Income ETF Cuts Dividend

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

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.