Short Interest in PGIM Ultra Short Bond ETF (NYSEARCA:PULS) Drops By 55.4%

PGIM Ultra Short Bond ETF (NYSEARCA:PULS) was the target of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 354,594 shares, a decrease of 55.4% from the June 15th total of 795,502 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily volume of 2,271,088 shares, the days-to-cover ratio is presently 0.2 days.

PGIM Ultra Short Bond ETF Price Performance

PULS traded up $0.01 during trading hours on Thursday, reaching $49.63. 1,578,639 shares of the stock traded hands, compared to its average volume of 2,740,147. The firm’s fifty day simple moving average is $49.62 and its two-hundred day simple moving average is $49.65. The company has a market cap of $17.39 billion, a price-to-earnings ratio of -23.86 and a beta of 0.02. PGIM Ultra Short Bond ETF has a fifty-two week low of $49.50 and a fifty-two week high of $49.84.

Institutional Investors Weigh In On PGIM Ultra Short Bond ETF

Several hedge funds and other institutional investors have recently modified their holdings of PULS. Cetera Investment Advisers grew its stake 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 purchasing an additional 1,715,376 shares in the last quarter. Bank of America Corp DE grew its stake in PGIM Ultra Short Bond ETF by 17.8% during the 2nd quarter. Bank of America Corp DE now owns 10,923,947 shares of the company’s stock worth $543,576,000 after buying an additional 1,647,341 shares during the last quarter. Kensington Asset Management LLC increased its holdings in shares of PGIM Ultra Short Bond ETF by 103.2% in the 1st quarter. Kensington Asset Management LLC now owns 3,226,778 shares of the company’s stock worth $159,726,000 after acquiring an additional 1,638,630 shares during the period. JPMorgan Chase & Co. increased its stake in shares of PGIM Ultra Short Bond ETF by 4.3% in the fourth quarter. JPMorgan Chase & Co. now owns 39,410,722 shares of the company’s stock valued at $1,954,378,000 after purchasing an additional 1,631,142 shares during the period. Finally, Ameriprise Financial Inc. increased its position in 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 valued at $51,456,000 after acquiring an additional 942,934 shares during the period. Institutional investors own 72.71% of the company’s stock.

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.