PGIM Active High Yield Bond ETF (NYSEARCA:PHYL) Sees Strong Trading Volume – Time to Buy?

PGIM Active High Yield Bond ETF (NYSEARCA:PHYL) saw strong trading volume on Wednesday. 622,964 shares were traded during mid-day trading, an increase of 207% from the average daily volume of 202,669 shares. The stock last traded at $33.5650 and had previously closed at $33.50.

PGIM Active High Yield Bond ETF Price Performance

The stock has a market capitalization of $1.53 billion, a P/E ratio of 2.48 and a beta of 0.42. The company has a 50 day simple moving average of $33.91 and a 200-day simple moving average of $34.80.

Institutional Investors Weigh In On PGIM Active High Yield Bond ETF

Several large investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in shares of PGIM Active High Yield Bond ETF by 11.4% during the second quarter. Envestnet Asset Management Inc. now owns 1,515,098 shares of the company’s stock valued at $52,847,000 after buying an additional 155,091 shares during the period. Fifth Third Bancorp lifted its holdings in shares of PGIM Active High Yield Bond ETF by 30,081.9% in the third quarter. Fifth Third Bancorp now owns 1,427,604 shares of the company’s stock worth $47,725,000 after buying an additional 1,422,874 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of PGIM Active High Yield Bond ETF by 28.0% in the first quarter. PNC Financial Services Group Inc. now owns 723,228 shares of the company’s stock worth $25,045,000 after buying an additional 158,344 shares in the last quarter. Capital Analysts LLC lifted its holdings in shares of PGIM Active High Yield Bond ETF by 14.5% in the second quarter. Capital Analysts LLC now owns 558,617 shares of the company’s stock worth $19,484,000 after buying an additional 70,954 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of PGIM Active High Yield Bond ETF by 105.9% in the first quarter. Cetera Investment Advisers now owns 377,707 shares of the company’s stock valued at $13,080,000 after acquiring an additional 194,237 shares during the period.

PGIM Active High Yield Bond ETF Company Profile

The PGIM Active High Yield Bond ETF (PHYL) is an exchange-traded fund that is based on the Bloomberg US High Yield Very Liquid index. The fund is an actively managed portfolio of high yield bonds. The fund seeks total return. PHYL was launched on Sep 24, 2018 and is managed by PGIM.