PGIM Ultra Short Bond ETF (NYSEARCA:PULS) Hits New 1-Year High – Should You Buy?

Shares of PGIM Ultra Short Bond ETF (NYSEARCA:PULS) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $49.83 and last traded at $49.83, with a volume of 150464 shares trading hands. The stock had previously closed at $49.82.

PGIM Ultra Short Bond ETF Stock Up 0.0%

The stock has a market capitalization of $12.63 billion, a price-to-earnings ratio of -23.95 and a beta of 0.04. The stock’s 50-day simple moving average is $49.73 and its 200 day simple moving average is $49.65.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in shares of PGIM Ultra Short Bond ETF by 2.7% during the second quarter. JPMorgan Chase & Co. now owns 33,714,033 shares of the company’s stock worth $1,677,610,000 after acquiring an additional 897,077 shares during the last quarter. Prudential Financial Inc. raised its holdings in PGIM Ultra Short Bond ETF by 13.7% during the 2nd quarter. Prudential Financial Inc. now owns 24,947,177 shares of the company’s stock worth $1,241,407,000 after purchasing an additional 2,999,297 shares during the last quarter. Bank of America Corp DE lifted its position 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 valued at $543,576,000 after purchasing an additional 1,647,341 shares during the period. LPL Financial LLC boosted its stake in shares of PGIM Ultra Short Bond ETF by 38.1% in the 1st quarter. LPL Financial LLC now owns 9,494,864 shares of the company’s stock valued at $472,180,000 after purchasing an additional 2,618,786 shares during the last quarter. Finally, Temasek Holdings Private Ltd bought a new position in shares of PGIM Ultra Short Bond ETF in the 1st quarter valued at about $250,500,000. 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.