PGIM Floating Rate Income ETF (NYSEARCA:PFRL) Short Interest Update
by Jessica Moore · The Cerbat GemPGIM Floating Rate Income ETF (NYSEARCA:PFRL – Get Free Report) was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 2,106 shares, an increase of 461.6% from the March 31st total of 375 shares. Based on an average daily volume of 18,280 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the company’s stock are short sold.
PGIM Floating Rate Income ETF Stock Performance
PFRL traded up $0.04 during trading on Friday, hitting $49.38. 2,565 shares of the company’s stock were exchanged, compared to its average volume of 13,024. The business’s 50 day moving average is $49.05 and its two-hundred day moving average is $49.48. PGIM Floating Rate Income ETF has a fifty-two week low of $48.60 and a fifty-two week high of $50.48.
PGIM Floating Rate Income ETF Cuts Dividend
The firm also recently disclosed a monthly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.2255 per share. This represents a c) dividend on an annualized basis 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 institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. acquired a new position in PGIM Floating Rate Income ETF during the 3rd quarter valued at about $228,000. Kestra Advisory Services LLC increased its holdings in PGIM Floating Rate Income ETF by 8.8% during the 4th quarter. Kestra Advisory Services LLC now owns 6,706 shares of the company’s stock worth $333,000 after purchasing an additional 540 shares in the last quarter. Inspire Advisors LLC raised its stake in shares of PGIM Floating Rate Income ETF by 2.9% in 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 last quarter. Summit Financial LLC purchased a new stake in shares of PGIM Floating Rate Income ETF in the fourth quarter worth approximately $365,000. Finally, Tactive Advisors LLC lifted its holdings in shares of PGIM Floating Rate Income ETF by 34.7% in the third quarter. Tactive Advisors LLC now owns 7,658 shares of the company’s stock valued at $384,000 after purchasing an additional 1,974 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.