PGIM Floating Rate Income ETF (NYSEARCA:PFRL) Short Interest Down 31.6% in January

PGIM Floating Rate Income ETF (NYSEARCA:PFRL) was the recipient of a significant decline in short interest in January. As of January 30th, there was short interest totaling 10,332 shares, a decline of 31.6% from the January 15th total of 15,114 shares. Based on an average daily trading volume, of 11,681 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.5% of the shares of the stock are short sold. Approximately 0.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 11,681 shares, the days-to-cover ratio is presently 0.9 days.

PGIM Floating Rate Income ETF Trading Up 0.0%

NYSEARCA:PFRL traded up $0.01 during trading hours on Friday, hitting $49.39. The company’s stock had a trading volume of 9,363 shares, compared to its average volume of 15,695. PGIM Floating Rate Income ETF has a 52-week low of $45.19 and a 52-week high of $50.65. The business’s 50-day moving average is $49.69 and its two-hundred day moving average is $49.86.

PGIM Floating Rate Income ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, February 4th. Stockholders of record on Monday, February 2nd were issued a $0.2407 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Monday, February 2nd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. purchased a new position in PGIM Floating Rate Income ETF in the third quarter valued at about $228,000. Tactive Advisors LLC acquired a new stake in shares of PGIM Floating Rate Income ETF in the 2nd quarter worth approximately $285,000. Kestra Advisory Services LLC increased its stake in 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 in the last quarter. Inspire Advisors LLC increased its stake in PGIM Floating Rate Income ETF by 2.9% in the 3rd quarter. Inspire Advisors LLC now owns 7,250 shares of the company’s stock valued at $363,000 after purchasing an additional 205 shares in the last quarter. Finally, Summit Financial LLC acquired a new position in PGIM Floating Rate Income ETF during the fourth quarter worth $365,000.

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.