Short Interest in PGIM Floating Rate Income ETF (NYSEARCA:PFRL) Expands By 234.5%

PGIM Floating Rate Income ETF (NYSEARCA:PFRL) was the target of a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 14,760 shares, an increase of 234.5% from the May 14th total of 4,413 shares. Based on an average daily volume of 13,104 shares, the short-interest ratio is currently 1.1 days. Approximately 0.6% of the shares of the company are short sold.

Hedge Funds Weigh In On PGIM Floating Rate Income ETF

Institutional investors have recently bought and sold shares of the company. Wealthcare Advisory Partners LLC purchased a new position in PGIM Floating Rate Income ETF in the fourth quarter valued at approximately $1,302,000. Jane Street Group LLC lifted its stake in PGIM Floating Rate Income ETF by 1,144.6% in the first quarter. Jane Street Group LLC now owns 50,381 shares of the company’s stock valued at $2,515,000 after purchasing an additional 46,333 shares during the last quarter. Mariner LLC lifted its stake in PGIM Floating Rate Income ETF by 116.3% in the fourth quarter. Mariner LLC now owns 36,466 shares of the company’s stock valued at $1,812,000 after purchasing an additional 19,608 shares during the last quarter. Cetera Investment Advisers purchased a new stake in shares of PGIM Floating Rate Income ETF during the fourth quarter worth $1,409,000. Finally, MML Investors Services LLC lifted its position in shares of PGIM Floating Rate Income ETF by 3.5% during the second quarter. MML Investors Services LLC now owns 21,538 shares of the company’s stock worth $1,080,000 after acquiring an additional 722 shares in the last quarter.

PGIM Floating Rate Income ETF Price Performance

PGIM Floating Rate Income ETF stock traded down $0.03 during trading on Friday, hitting $49.40. The stock had a trading volume of 8,939 shares, compared to its average volume of 12,431. PGIM Floating Rate Income ETF has a 1 year low of $48.60 and a 1 year high of $50.48. The stock’s 50 day moving average is $49.35 and its two-hundred day moving average is $49.42.

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.