PGIM Short Duration Multi-Sector Bond ETF (BATS:PSDM) Sees Large Decline in Short Interest

PGIM Short Duration Multi-Sector Bond ETF (BATS:PSDM) was the target of a large decline in short interest during the month of June. As of June 15th, there was short interest totaling 13,563 shares, a decline of 68.4% from the May 31st total of 42,905 shares. Based on an average daily volume of 34,782 shares, the short-interest ratio is presently 0.4 days. Approximately 0.9% of the shares of the company are short sold.

PGIM Short Duration Multi-Sector Bond ETF Price Performance

PSDM opened at $51.12 on Monday. The stock’s 50 day moving average price is $51.11 and its two-hundred day moving average price is $51.32. PGIM Short Duration Multi-Sector Bond ETF has a 12-month low of $50.76 and a 12-month high of $52.03.

Institutional Investors Weigh In On PGIM Short Duration Multi-Sector Bond ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Team Financial Group LLC increased its position in PGIM Short Duration Multi-Sector Bond ETF by 5.4% during the first quarter. Team Financial Group LLC now owns 200,595 shares of the company’s stock worth $10,224,000 after acquiring an additional 10,216 shares during the period. Ascentis Independent Advisors bought a new stake in PGIM Short Duration Multi-Sector Bond ETF in the 1st quarter valued at $398,000. Sound Income Strategies LLC bought a new stake in PGIM Short Duration Multi-Sector Bond ETF in the 1st quarter valued at $83,000. Thoroughbred Financial Services LLC grew its position in PGIM Short Duration Multi-Sector Bond ETF by 149.0% in the 4th quarter. Thoroughbred Financial Services LLC now owns 11,652 shares of the company’s stock worth $599,000 after purchasing an additional 6,972 shares during the last quarter. Finally, Steel Grove Capital Advisors LLC grew its position in PGIM Short Duration Multi-Sector Bond ETF by 76.3% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 68,809 shares of the company’s stock worth $3,542,000 after purchasing an additional 29,778 shares during the last quarter.

PGIM Short Duration Multi-Sector Bond ETF Company Profile

The PGIM Short Duration Multi-Sector Bond ETF (PSDM) is an exchange-traded fund that mostly invests in broad credit fixed income. PDSM is an actively managed fund that holds a broad range of fixed income instruments with any credit rating, duration, and maturity, while targeting a weighted average maturity of less than or equal to five years. Securities are selected using both top-down analysis and bottom-up research. PSDM was launched on Jul 19, 2023 and is issued by PGIM.