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

PGIM Short Duration Multi-Sector Bond ETF (BATS:PSDM) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 9,401 shares, a drop of 46.2% from the August 15th total of 17,484 shares. Currently, 0.6% of the company’s shares are short sold. Based on an average daily volume of 40,794 shares, the days-to-cover ratio is presently 0.2 days.

PGIM Short Duration Multi-Sector Bond ETF Price Performance

BATS PSDM opened at $50.42 on Wednesday. PGIM Short Duration Multi-Sector Bond ETF has a 1-year low of $50.37 and a 1-year high of $52.03. The business’s 50-day simple moving average is $50.82 and its 200-day simple moving average is $51.03.

Institutional Inflows and Outflows

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

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.