PGIM Short Duration Multi-Sector Bond ETF (BATS:PSDM) Short Interest Up 678.7% in May

PGIM Short Duration Multi-Sector Bond ETF (BATS:PSDM) saw a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 42,905 shares, an increase of 678.7% from the May 14th total of 5,510 shares. Currently, 2.7% of the company’s stock are short sold. Based on an average daily volume of 24,871 shares, the days-to-cover ratio is presently 1.7 days.

PGIM Short Duration Multi-Sector Bond ETF Stock Performance

PSDM opened at $51.04 on Friday. The business has a 50 day moving average of $51.13 and a 200-day moving average of $51.35. PGIM Short Duration Multi-Sector Bond ETF has a 52 week low of $50.79 and a 52 week high of $52.03.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Team Financial Group LLC raised its stake in PGIM Short Duration Multi-Sector Bond ETF by 5.4% during the first quarter. Team Financial Group LLC now owns 200,595 shares of the company’s stock valued at $10,224,000 after buying an additional 10,216 shares during the last quarter. Ascentis Independent Advisors purchased a new position in shares of PGIM Short Duration Multi-Sector Bond ETF in the first quarter worth $398,000. Sound Income Strategies LLC purchased a new position in shares of PGIM Short Duration Multi-Sector Bond ETF in the first quarter worth $83,000. Thoroughbred Financial Services LLC raised its stake in shares of PGIM Short Duration Multi-Sector Bond ETF by 149.0% in the fourth quarter. Thoroughbred Financial Services LLC now owns 11,652 shares of the company’s stock worth $599,000 after purchasing an additional 6,972 shares during the last quarter. Finally, Steel Grove Capital Advisors LLC raised its stake in shares of PGIM Short Duration Multi-Sector Bond ETF by 76.3% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 68,809 shares of the company’s stock worth $3,542,000 after purchasing an additional 29,778 shares during the last quarter.

PGIM Short Duration Multi-Sector Bond ETF Company Profile

The PGIM Short Duration Multi-Sector Bond ETF (PSDM) is an exchange-traded fund that mostly invests in broad credit fixed income. PDSM is an actively managed fund that holds a broad range of fixed income instruments with any credit rating, duration, and maturity, while targeting a weighted average maturity of less than or equal to five years. Securities are selected using both top-down analysis and bottom-up research. PSDM was launched on Jul 19, 2023 and is issued by PGIM.