Sheets Smith Wealth Management Buys 46,923 Shares of PGIM Ultra Short Bond ETF $PULS

Sheets Smith Wealth Management lifted its stake in shares of PGIM Ultra Short Bond ETF (NYSEARCA:PULS) by 35.1% in the 4th quarter, HoldingsChannel reports. The firm owned 180,791 shares of the company’s stock after buying an additional 46,923 shares during the quarter. PGIM Ultra Short Bond ETF accounts for 1.0% of Sheets Smith Wealth Management’s portfolio, making the stock its 22nd biggest position. Sheets Smith Wealth Management’s holdings in PGIM Ultra Short Bond ETF were worth $8,965,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in PGIM Ultra Short Bond ETF by 12.1% during the third quarter. JPMorgan Chase & Co. now owns 37,779,580 shares of the company’s stock valued at $1,882,557,000 after purchasing an additional 4,065,547 shares during the period. Bank of America Corp DE increased its position in PGIM Ultra Short Bond ETF by 2.0% in the third quarter. Bank of America Corp DE now owns 11,139,193 shares of the company’s stock worth $555,066,000 after buying an additional 215,246 shares during the last quarter. Raymond James Financial Inc. raised its stake in shares of PGIM Ultra Short Bond ETF by 5.7% in the third quarter. Raymond James Financial Inc. now owns 4,348,595 shares of the company’s stock valued at $216,691,000 after buying an additional 236,042 shares during the period. UBS Group AG raised its stake in shares of PGIM Ultra Short Bond ETF by 16.9% in the third quarter. UBS Group AG now owns 4,102,346 shares of the company’s stock valued at $204,420,000 after buying an additional 591,642 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of PGIM Ultra Short Bond ETF by 11.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,799,980 shares of the company’s stock valued at $189,353,000 after buying an additional 396,495 shares during the last quarter. Institutional investors own 72.71% of the company’s stock.

PGIM Ultra Short Bond ETF Stock Performance

PULS stock opened at $49.54 on Friday. The stock has a fifty day moving average of $49.66 and a 200-day moving average of $49.70. PGIM Ultra Short Bond ETF has a fifty-two week low of $49.34 and a fifty-two week high of $49.84. The company has a market capitalization of $14.54 billion, a price-to-earnings ratio of -23.82 and a beta of 0.01.

PGIM Ultra Short Bond ETF Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, March 2nd were given a dividend of $0.1654 per share. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Monday, March 2nd. PGIM Ultra Short Bond ETF’s dividend payout ratio (DPR) is currently -112.02%.

About PGIM Ultra Short Bond ETF

The PGIM Ultra Short Bond ETF (PULS) is an exchange-traded fund that is based on the ICE BofAML USD Libor 3 Month index. The fund is an actively managed bond fund that specializes in short-term, high-credit-quality debt securities denominated in US dollars. The fund seeks total return that is consistent with capital preservation. PULS was launched on Apr 5, 2018 and is managed by PGIM.