Short Interest in PGIM Floating Rate Income ETF (NYSEARCA:PFRL) Increases By 76.1%

PGIM Floating Rate Income ETF (NYSEARCA:PFRL) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 4,413 shares, an increase of 76.1% from the April 30th total of 2,506 shares. Based on an average daily trading volume, of 8,423 shares, the short-interest ratio is currently 0.5 days. Approximately 0.2% of the company’s stock are sold short.

Institutional Trading of PGIM Floating Rate Income ETF

A number of institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC raised its position in shares of PGIM Floating Rate Income ETF by 8.8% in the 4th quarter. Kestra Advisory Services LLC now owns 6,706 shares of the company’s stock valued at $333,000 after purchasing an additional 540 shares during the last quarter. Sheets Smith Wealth Management boosted its holdings in shares of PGIM Floating Rate Income ETF by 3.5% in the 4th quarter. Sheets Smith Wealth Management now owns 19,577 shares of the company’s stock valued at $973,000 after acquiring an additional 664 shares during the last quarter. MML Investors Services LLC boosted its holdings in shares of PGIM Floating Rate Income ETF by 3.5% in the 2nd quarter. MML Investors Services LLC now owns 21,538 shares of the company’s stock valued at $1,080,000 after acquiring an additional 722 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of PGIM Floating Rate Income ETF by 13,533.3% in the 1st quarter. Royal Bank of Canada now owns 818 shares of the company’s stock valued at $40,000 after acquiring an additional 812 shares during the last quarter. Finally, Inspire Advisors LLC boosted its holdings in shares of PGIM Floating Rate Income ETF by 23.2% in the 4th quarter. Inspire Advisors LLC now owns 8,931 shares of the company’s stock valued at $444,000 after acquiring an additional 1,681 shares during the last quarter.

PGIM Floating Rate Income ETF Price Performance

Shares of PFRL stock traded down $0.08 during trading hours on Tuesday, reaching $49.38. The stock had a trading volume of 17,932 shares, compared to its average volume of 12,278. The stock’s fifty day simple moving average is $49.25 and its 200 day simple moving average is $49.43. PGIM Floating Rate Income ETF has a 12 month low of $48.60 and a 12 month high of $50.48.

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.