Short Interest in PGIM Short Duration Multi-Sector Bond ETF (BATS:PSDM) Declines By 68.4%

PGIM Short Duration Multi-Sector Bond ETF (BATS:PSDM) was the target of a large drop in short interest in June. As of June 15th, there was short interest totaling 13,563 shares, a drop of 68.4% from the May 31st total of 42,905 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily volume of 34,782 shares, the days-to-cover ratio is presently 0.4 days.

PGIM Short Duration Multi-Sector Bond ETF Trading Up 0.0%

Shares of BATS PSDM opened at $51.12 on Friday. PGIM Short Duration Multi-Sector Bond ETF has a 52 week low of $50.76 and a 52 week high of $52.03. The firm has a 50-day moving average price of $51.11 and a 200 day moving average price of $51.32.

Institutional Investors Weigh In On PGIM Short Duration Multi-Sector Bond ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sound Income Strategies LLC purchased a new stake in shares of PGIM Short Duration Multi-Sector Bond ETF during the 1st quarter worth approximately $83,000. Thoroughbred Financial Services LLC purchased a new position in PGIM Short Duration Multi-Sector Bond ETF in the 3rd quarter valued at approximately $241,000. IFP Advisors Inc raised its holdings in PGIM Short Duration Multi-Sector Bond ETF by 30.8% during the third quarter. IFP Advisors Inc now owns 29,221 shares of the company’s stock worth $1,507,000 after purchasing an additional 6,879 shares during the last quarter. Ascentis Independent Advisors acquired a new position in PGIM Short Duration Multi-Sector Bond ETF during the first quarter worth $398,000. Finally, Team Financial Group LLC raised its holdings 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 worth $10,224,000 after purchasing an additional 10,216 shares during the last quarter.

About PGIM Short Duration Multi-Sector Bond ETF

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.