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

PGIM Floating Rate Income ETF (NYSEARCA:PFRL) saw a significant increase in short interest in 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. Currently, 0.6% of the shares of the company are sold short. Based on an average trading volume of 13,104 shares, the short-interest ratio is currently 1.1 days.

PGIM Floating Rate Income ETF Stock Performance

Shares of PFRL stock traded down $0.03 during trading on Friday, hitting $49.40. The company’s stock had a trading volume of 8,939 shares, compared to its average volume of 12,431. The business has a fifty day moving average of $49.35 and a 200-day moving average of $49.42. PGIM Floating Rate Income ETF has a 52 week low of $48.60 and a 52 week high of $50.48.

Hedge Funds Weigh In On PGIM Floating Rate Income ETF

Several institutional investors have recently modified their holdings of the business. Kestra Advisory Services LLC grew its holdings in shares of PGIM Floating Rate Income ETF by 8.8% in the fourth quarter. Kestra Advisory Services LLC now owns 6,706 shares of the company’s stock valued at $333,000 after acquiring an additional 540 shares in the last quarter. Sheets Smith Wealth Management lifted its stake in PGIM Floating Rate Income ETF by 3.5% in the fourth quarter. Sheets Smith Wealth Management now owns 19,577 shares of the company’s stock valued at $973,000 after purchasing an additional 664 shares during the last quarter. MML Investors Services LLC lifted its stake in PGIM Floating Rate Income ETF by 3.5% in the second quarter. MML Investors Services LLC now owns 21,538 shares of the company’s stock valued at $1,080,000 after purchasing an additional 722 shares during the last quarter. Royal Bank of Canada lifted its stake in PGIM Floating Rate Income ETF by 13,533.3% in the first quarter. Royal Bank of Canada now owns 818 shares of the company’s stock valued at $40,000 after purchasing an additional 812 shares during the last quarter. Finally, Inspire Advisors LLC lifted its stake in PGIM Floating Rate Income ETF by 23.2% in the fourth quarter. Inspire Advisors LLC now owns 8,931 shares of the company’s stock valued at $444,000 after purchasing an additional 1,681 shares during the last quarter.

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.