Short Interest in PGIM Floating Rate Income ETF (NYSEARCA:PFRL) Increases By 36.8%

PGIM Floating Rate Income ETF (NYSEARCA:PFRL) was the target of a large growth in short interest in December. As of December 15th, there was short interest totaling 15,631 shares, a growth of 36.8% from the November 30th total of 11,430 shares. Based on an average daily volume of 9,292 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.8% of the company’s shares are sold short. Currently, 0.8% of the company’s shares are sold short. Based on an average daily volume of 9,292 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Arete Wealth Advisors LLC bought a new position in shares of PGIM Floating Rate Income ETF in the 1st quarter worth approximately $35,151,000. Moody National Bank Trust Division grew its stake in PGIM Floating Rate Income ETF by 1.0% in the third quarter. Moody National Bank Trust Division now owns 126,362 shares of the company’s stock worth $6,335,000 after purchasing an additional 1,193 shares during the period. Kestra Private Wealth Services LLC bought a new position in PGIM Floating Rate Income ETF in the third quarter worth $3,581,000. Rovin Capital UT ADV raised its holdings in PGIM Floating Rate Income ETF by 3.3% in the third quarter. Rovin Capital UT ADV now owns 70,021 shares of the company’s stock worth $3,510,000 after purchasing an additional 2,207 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in PGIM Floating Rate Income ETF by 1,144.6% during the first quarter. Jane Street Group LLC now owns 50,381 shares of the company’s stock valued at $2,515,000 after buying an additional 46,333 shares during the period.

PGIM Floating Rate Income ETF Trading Down 0.8%

Shares of PFRL traded down $0.40 during trading hours on Tuesday, reaching $49.56. 5,679 shares of the company traded hands, compared to its average volume of 19,202. PGIM Floating Rate Income ETF has a 12 month low of $45.19 and a 12 month high of $50.76. The company’s fifty day moving average price is $49.78 and its two-hundred day moving average price is $49.97.

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.