PGIM Floating Rate Income ETF (NYSEARCA:PFRL) Sees Significant Decrease in Short Interest

PGIM Floating Rate Income ETF (NYSEARCA:PFRL) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 10,643 shares, a drop of 31.9% from the December 15th total of 15,631 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 14,164 shares, the short-interest ratio is presently 0.8 days. Based on an average daily trading volume, of 14,164 shares, the short-interest ratio is presently 0.8 days. Currently, 0.5% of the shares of the stock are short sold.

PGIM Floating Rate Income ETF Stock Performance

PFRL traded up $0.04 during trading on Friday, hitting $49.79. 7,571 shares of the company traded hands, compared to its average volume of 22,543. The stock’s 50-day simple moving average is $49.75 and its two-hundred day simple moving average is $49.95. PGIM Floating Rate Income ETF has a 1 year low of $45.19 and a 1 year high of $50.76.

Institutional Investors Weigh In On PGIM Floating Rate Income ETF

Large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. bought a new stake in PGIM Floating Rate Income ETF in the 1st quarter worth approximately $953,000. Rovin Capital UT ADV grew its holdings in shares of PGIM Floating Rate Income ETF by 7.9% in the second quarter. Rovin Capital UT ADV now owns 67,814 shares of the company’s stock valued at $3,402,000 after purchasing an additional 4,958 shares in the last quarter. Moody National Bank Trust Division increased its position in PGIM Floating Rate Income ETF by 1.5% in the second quarter. Moody National Bank Trust Division now owns 125,169 shares of the company’s stock worth $6,278,000 after purchasing an additional 1,830 shares during the last quarter. Tactive Advisors LLC raised its stake in PGIM Floating Rate Income ETF by 34.7% during the third quarter. Tactive Advisors LLC now owns 7,658 shares of the company’s stock valued at $384,000 after purchasing an additional 1,974 shares in the last quarter. Finally, Sheets Smith Wealth Management raised its stake in PGIM Floating Rate Income ETF by 5.4% during the third quarter. Sheets Smith Wealth Management now owns 18,913 shares of the company’s stock valued at $948,000 after purchasing an additional 967 shares in 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.