PGIM Floating Rate Income ETF (NYSEARCA:PFRL) Short Interest Down 14.9% in February

PGIM Floating Rate Income ETF (NYSEARCA:PFRL) saw a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 31,578 shares, a drop of 14.9% from the February 12th total of 37,118 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average daily volume of 9,219 shares, the days-to-cover ratio is presently 3.4 days. Based on an average daily volume of 9,219 shares, the days-to-cover ratio is presently 3.4 days. Currently, 1.4% of the company’s stock are short sold.

PGIM Floating Rate Income ETF Trading Down 0.2%

Shares of PFRL opened at $48.87 on Monday. The stock has a 50 day simple moving average of $49.41 and a 200 day simple moving average of $49.71. PGIM Floating Rate Income ETF has a 52-week low of $45.19 and a 52-week high of $50.48.

PGIM Floating Rate Income ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, March 2nd were issued a $0.2255 dividend. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Monday, March 2nd.

Institutional Investors Weigh In On PGIM Floating Rate Income ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in PFRL. Inspire Advisors LLC lifted its position in PGIM Floating Rate Income ETF by 2.9% in the 3rd quarter. Inspire Advisors LLC now owns 7,250 shares of the company’s stock valued at $363,000 after acquiring an additional 205 shares in the last quarter. Kestra Advisory Services LLC raised its stake in shares of PGIM Floating Rate Income ETF by 8.8% in the 4th quarter. Kestra Advisory Services LLC now owns 6,706 shares of the company’s stock valued at $333,000 after purchasing an additional 540 shares during the period. Sheets Smith Wealth Management raised its stake in shares of PGIM Floating Rate Income ETF by 3.5% in the 4th 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 period. MML Investors Services LLC lifted its holdings in shares of 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 in the last quarter. Finally, Moody National Bank Trust Division lifted its holdings in shares of PGIM Floating Rate Income ETF by 1.0% in the third quarter. Moody National Bank Trust Division now owns 126,362 shares of the company’s stock valued at $6,335,000 after purchasing an additional 1,193 shares in 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.