PGIM Ultra Short Bond ETF (NYSEARCA:PULS) Sees Significant Increase in Short Interest

PGIM Ultra Short Bond ETF (NYSEARCA:PULS) was the target of a large increase in short interest in May. As of May 29th, there was short interest totaling 1,067,016 shares, an increase of 334.5% from the May 14th total of 245,548 shares. Based on an average daily trading volume, of 2,218,795 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.3% of the shares of the stock are short sold.

PGIM Ultra Short Bond ETF Price Performance

Shares of PULS opened at $49.64 on Friday. PGIM Ultra Short Bond ETF has a 1 year low of $49.50 and a 1 year high of $49.84. The company has a 50 day simple moving average of $49.62 and a two-hundred day simple moving average of $49.66. The firm has a market cap of $16.45 billion, a P/E ratio of -23.87 and a beta of 0.02.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC boosted its position in shares of PGIM Ultra Short Bond ETF by 10.1% during the 1st quarter. NewEdge Advisors LLC now owns 1,307,335 shares of the company’s stock valued at $64,713,000 after acquiring an additional 120,342 shares during the last quarter. Flagship Wealth Advisors LLC bought a new position in shares of PGIM Ultra Short Bond ETF during the 1st quarter valued at approximately $25,000. WNY Asset Management LLC bought a new position in shares of PGIM Ultra Short Bond ETF during the 1st quarter valued at approximately $263,000. Verus Capital Partners LLC boosted its position in shares of PGIM Ultra Short Bond ETF by 10.8% during the 1st quarter. Verus Capital Partners LLC now owns 102,805 shares of the company’s stock valued at $5,089,000 after acquiring an additional 10,027 shares during the last quarter. Finally, Raab & Moskowitz Asset Management LLC boosted its position in shares of PGIM Ultra Short Bond ETF by 29.1% during the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 132,183 shares of the company’s stock valued at $6,543,000 after acquiring an additional 29,790 shares during the last quarter. 72.71% of the stock is currently owned by institutional investors.

PGIM Ultra Short Bond ETF Company Profile

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.