PGIM Floating Rate Income ETF (NYSEARCA:PFRL) Short Interest Up 76.1% in May

PGIM Floating Rate Income ETF (NYSEARCA:PFRL) saw a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 4,413 shares, an increase of 76.1% from the April 30th total of 2,506 shares. Based on an average trading volume of 8,423 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.2% of the shares of the stock are sold short.

PGIM Floating Rate Income ETF Price Performance

NYSEARCA PFRL opened at $49.44 on Thursday. PGIM Floating Rate Income ETF has a fifty-two week low of $48.60 and a fifty-two week high of $50.48. The business has a fifty day moving average of $49.27 and a 200-day moving average of $49.43.

Institutional Investors Weigh In On PGIM Floating Rate Income ETF

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada boosted its holdings in shares of PGIM Floating Rate Income ETF by 13,533.3% during the first quarter. Royal Bank of Canada now owns 818 shares of the company’s stock worth $40,000 after purchasing an additional 812 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of PGIM Floating Rate Income ETF during the third quarter worth $228,000. Kestra Advisory Services LLC boosted its holdings in shares of PGIM Floating Rate Income ETF by 8.8% during the fourth quarter. Kestra Advisory Services LLC now owns 6,706 shares of the company’s stock worth $333,000 after purchasing an additional 540 shares during the last quarter. Summit Financial LLC acquired a new stake in shares of PGIM Floating Rate Income ETF during the fourth quarter worth $365,000. Finally, Inspire Advisors LLC boosted its holdings in shares of PGIM Floating Rate Income ETF by 23.2% during the fourth quarter. Inspire Advisors LLC now owns 8,931 shares of the company’s stock worth $444,000 after purchasing an additional 1,681 shares during the last quarter.

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.