PGIM Floating Rate Income ETF (NYSEARCA:PFRL) Sees Large Drop in Short Interest

PGIM Floating Rate Income ETF (NYSEARCA:PFRL) saw a significant decline in short interest in the month of October. As of October 30th, there was short interest totaling 4,002 shares, a decline of 77.5% from the October 15th total of 17,796 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 26,824 shares, the days-to-cover ratio is presently 0.1 days.

PGIM Floating Rate Income ETF Stock Up 0.0%

NYSEARCA PFRL opened at $49.36 on Thursday. PGIM Floating Rate Income ETF has a 52 week low of $48.60 and a 52 week high of $50.20. The company has a fifty day moving average of $49.50 and a two-hundred day moving average of $49.42.

Institutional Investors Weigh In On PGIM Floating Rate Income ETF

Several institutional investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in shares of PGIM Floating Rate Income ETF by 13,533.3% during the 1st quarter. Royal Bank of Canada now owns 818 shares of the company’s stock worth $40,000 after purchasing an additional 812 shares during the period. Manchester Capital Management LLC bought a new position in PGIM Floating Rate Income ETF during the 3rd quarter valued at about $89,000. Envestnet Asset Management Inc. raised its position in PGIM Floating Rate Income ETF by 23.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 7,036 shares of the company’s stock worth $348,000 after purchasing an additional 1,317 shares during the period. Tactive Advisors LLC raised its position in PGIM Floating Rate Income ETF by 24.8% in the 2nd quarter. Tactive Advisors LLC now owns 8,262 shares of the company’s stock worth $409,000 after purchasing an additional 1,641 shares during the period. Finally, Focus Financial Network Inc. purchased a new stake in PGIM Floating Rate Income ETF in the 2nd quarter worth about $693,000.

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.