PGIM Floating Rate Income ETF (NYSEARCA:PFRL) Sees Large Drop in Short Interest

PGIM Floating Rate Income ETF (NYSEARCA:PFRL) was the recipient of a large drop in short interest in October. As of October 30th, there was short interest totaling 4,002 shares, a drop of 77.5% from the October 15th total of 17,796 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 26,824 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On PGIM Floating Rate Income ETF

A number of institutional investors and hedge funds have recently modified their holdings of PFRL. Oppenheimer & Co. Inc. acquired a new stake in PGIM Floating Rate Income ETF during the 3rd quarter worth about $1,067,000. Manchester Capital Management LLC acquired a new stake in shares of PGIM Floating Rate Income ETF during the 3rd quarter valued at $89,000. Focus Financial Network Inc. boosted its position in PGIM Floating Rate Income ETF by 41.3% during the third quarter. Focus Financial Network Inc. now owns 19,705 shares of the company’s stock valued at $980,000 after purchasing an additional 5,756 shares during the last quarter. Tactive Advisors LLC grew its stake in shares of PGIM Floating Rate Income ETF by 77.5% in the 3rd quarter. Tactive Advisors LLC now owns 14,661 shares of the company’s stock valued at $726,000 after buying an additional 6,399 shares in the last quarter. Finally, Moody National Bank Trust Division bought a new stake in PGIM Floating Rate Income ETF in the third quarter worth approximately $6,996,000.

PGIM Floating Rate Income ETF Price Performance

NYSEARCA:PFRL traded down $0.01 during mid-day trading on Friday, reaching $49.39. 55,081 shares of the stock were exchanged, compared to its average volume of 15,519. PGIM Floating Rate Income ETF has a 1-year low of $48.60 and a 1-year high of $50.20. The business has a fifty day moving average price of $49.48 and a 200 day moving average price of $49.42.

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.