PGIM Floating Rate Income ETF (NYSEARCA:PFRL) Short Interest Update

PGIM Floating Rate Income ETF (NYSEARCA:PFRL) saw a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 14,526 shares, a drop of 54.0% from the February 26th total of 31,578 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily volume of 12,287 shares, the short-interest ratio is currently 1.2 days.

PGIM Floating Rate Income ETF Stock Down 0.2%

Shares of PFRL traded down $0.10 during mid-day trading on Friday, reaching $48.78. The company had a trading volume of 24,335 shares, compared to its average volume of 13,289. PGIM Floating Rate Income ETF has a fifty-two week low of $45.19 and a fifty-two week high of $50.48. The firm has a fifty day simple moving average of $49.24 and a 200-day simple moving average of $49.62.

PGIM Floating Rate Income ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, March 2nd were issued a $0.2255 dividend. The ex-dividend date was Monday, March 2nd. This represents a c) dividend on an annualized basis and a yield of 5.5%.

Institutional Investors Weigh In On PGIM Floating Rate Income ETF

A number of institutional investors have recently added to or reduced their stakes in PFRL. Cetera Investment Advisers purchased a new position in shares of PGIM Floating Rate Income ETF in the 4th quarter worth about $1,409,000. Mariner LLC grew its holdings in shares of PGIM Floating Rate Income ETF by 116.3% during the 4th quarter. Mariner LLC now owns 36,466 shares of the company’s stock worth $1,812,000 after purchasing an additional 19,608 shares during the period. Kestra Advisory Services LLC grew its holdings in shares of 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 during the period. Inspire Advisors LLC increased its position in PGIM Floating Rate Income ETF by 23.2% during the 4th quarter. Inspire Advisors LLC now owns 8,931 shares of the company’s stock worth $444,000 after purchasing an additional 1,681 shares in the last quarter. Finally, Summit Financial LLC acquired a new stake in PGIM Floating Rate Income ETF during the 4th quarter worth approximately $365,000.

PGIM Floating Rate Income ETF Company Profile

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.