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

PGIM Short Duration Multi-Sector Bond ETF (BATS:PSDM) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 12,370 shares, an increase of 298.5% from the September 15th total of 3,104 shares. Approximately 0.8% of the company’s stock are sold short. Based on an average daily volume of 28,252 shares, the short-interest ratio is currently 0.4 days.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Team Financial Group LLC lifted its position 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 worth $10,224,000 after buying an additional 10,216 shares in the last quarter. Ascentis Independent Advisors purchased a new position in shares of PGIM Short Duration Multi-Sector Bond ETF in the 1st quarter worth approximately $398,000. Finally, Sound Income Strategies LLC purchased a new position in shares of PGIM Short Duration Multi-Sector Bond ETF in the 1st quarter worth approximately $83,000.

PGIM Short Duration Multi-Sector Bond ETF Price Performance

PSDM opened at $50.18 on Friday. The company’s 50-day moving average is $50.59 and its 200 day moving average is $50.89. PGIM Short Duration Multi-Sector Bond ETF has a fifty-two week low of $49.97 and a fifty-two week high of $52.03.

About PGIM Short Duration Multi-Sector Bond ETF

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.