PGIM Floating Rate Income ETF (NYSEARCA:PFRL) Short Interest Up 234.5% in May

PGIM Floating Rate Income ETF (NYSEARCA:PFRL) was the recipient of a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 14,760 shares, a growth of 234.5% from the May 14th total of 4,413 shares. Based on an average daily volume of 13,104 shares, the short-interest ratio is currently 1.1 days. Approximately 0.6% of the company’s shares are short sold.

PGIM Floating Rate Income ETF Trading Down 0.1%

PGIM Floating Rate Income ETF stock traded down $0.03 during midday trading on Friday, reaching $49.40. The stock had a trading volume of 8,939 shares, compared to its average volume of 12,431. The firm’s fifty day simple moving average is $49.35 and its two-hundred day simple moving average is $49.42. PGIM Floating Rate Income ETF has a twelve month low of $48.60 and a twelve month high of $50.48.

Hedge Funds Weigh In On PGIM Floating Rate Income ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFRL. Goldman Sachs Group Inc. acquired a new position in PGIM Floating Rate Income ETF in the 1st quarter worth approximately $953,000. Jane Street Group LLC boosted its stake in PGIM Floating Rate Income ETF by 1,144.6% in the 1st quarter. Jane Street Group LLC now owns 50,381 shares of the company’s stock worth $2,515,000 after purchasing an additional 46,333 shares during the period. MML Investors Services LLC boosted its stake in PGIM Floating Rate Income ETF by 3.5% in the 2nd quarter. MML Investors Services LLC now owns 21,538 shares of the company’s stock worth $1,080,000 after purchasing an additional 722 shares during the period. Envestnet Asset Management Inc. acquired a new position in PGIM Floating Rate Income ETF in the 3rd quarter worth approximately $228,000. Finally, Mariner LLC boosted its stake in PGIM Floating Rate Income ETF by 21.9% in the 3rd quarter. Mariner LLC now owns 16,858 shares of the company’s stock worth $845,000 after purchasing an additional 3,028 shares during the period.

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.