PGIM Floating Rate Income ETF (NYSEARCA:PFRL) Short Interest Up 259.3% in February

PGIM Floating Rate Income ETF (NYSEARCA:PFRL) was the recipient of a significant increase in short interest in February. As of February 13th, there was short interest totaling 37,118 shares, an increase of 259.3% from the January 29th total of 10,332 shares. Currently, 1.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 11,496 shares, the short-interest ratio is currently 3.2 days. Based on an average daily trading volume, of 11,496 shares, the short-interest ratio is currently 3.2 days. Currently, 1.7% of the shares of the stock are sold short.

PGIM Floating Rate Income ETF Stock Down 0.4%

NYSEARCA PFRL traded down $0.20 during trading hours on Friday, hitting $48.95. 11,642 shares of the company’s stock traded hands, compared to its average volume of 14,183. PGIM Floating Rate Income ETF has a 52-week low of $45.19 and a 52-week high of $50.56. The firm’s 50-day moving average is $49.59 and its 200-day moving average is $49.81.

PGIM Floating Rate Income ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, February 4th. Investors of record on Monday, February 2nd were issued a $0.2407 dividend. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend was Monday, February 2nd.

Institutional Trading of PGIM Floating Rate Income ETF

Large investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. acquired a new stake in shares of PGIM Floating Rate Income ETF in the 3rd quarter worth $228,000. Tactive Advisors LLC purchased a new stake in shares of PGIM Floating Rate Income ETF in the second quarter valued at about $285,000. Kestra Advisory Services LLC increased its position in PGIM Floating Rate Income ETF by 8.8% during the fourth quarter. Kestra Advisory Services LLC now owns 6,706 shares of the company’s stock worth $333,000 after purchasing an additional 540 shares during the last quarter. Inspire Advisors LLC raised its stake in PGIM Floating Rate Income ETF by 2.9% during the third quarter. Inspire Advisors LLC now owns 7,250 shares of the company’s stock worth $363,000 after purchasing an additional 205 shares during the period. Finally, Summit Financial LLC purchased a new position in PGIM Floating Rate Income ETF during the fourth quarter worth about $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.