PGIM Short Duration High Yield ETF (BATS:PSH) Sees Large Drop in Short Interest

PGIM Short Duration High Yield ETF (BATS:PSH) was the recipient of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 7,546 shares, a drop of 55.3% from the May 14th total of 16,890 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily volume of 27,076 shares, the days-to-cover ratio is currently 0.3 days.

PGIM Short Duration High Yield ETF Stock Up 0.1%

Shares of PGIM Short Duration High Yield ETF stock opened at $50.01 on Friday. The company has a 50 day moving average price of $50.04 and a 200 day moving average price of $50.23. PGIM Short Duration High Yield ETF has a 52 week low of $49.44 and a 52 week high of $51.51.

Hedge Funds Weigh In On PGIM Short Duration High Yield ETF

Several hedge funds and other institutional investors have recently modified their holdings of PSH. EverSource Wealth Advisors LLC purchased a new position in shares of PGIM Short Duration High Yield ETF in the 3rd quarter valued at approximately $5,926,000. Janney Montgomery Scott LLC raised its position in PGIM Short Duration High Yield ETF by 54.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 38,267 shares of the company’s stock worth $1,927,000 after buying an additional 13,425 shares during the last quarter. Parallel Advisors LLC raised its position in PGIM Short Duration High Yield ETF by 296.1% during the 4th quarter. Parallel Advisors LLC now owns 4,012 shares of the company’s stock worth $202,000 after buying an additional 2,999 shares during the last quarter. Farther Finance Advisors LLC purchased a new position in PGIM Short Duration High Yield ETF during the 4th quarter worth approximately $137,000. Finally, IAG Wealth Partners LLC purchased a new position in PGIM Short Duration High Yield ETF during the 1st quarter worth approximately $113,000.

About PGIM Short Duration High Yield ETF

The PGIM Short Duration HIgh Yield ETF (PSH) is an exchange-traded fund that mostly invests in high yield fixed income. The fund is actively managed, investing in a broad portfolio of global fixed income securities that are rated below investment grade. The fund aims to maintain an average portfolio duration of three years or less PSH was launched on Dec 14, 2023 and is issued by PGIM.