ING Prime Rate Trust (NYSE:PPR) Trading Volume Significantly Higher

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Trading volume for ING Prime Rate Trust was 1,071K on Wednesday. Volume was up 77.41% over the stocks average daily volume.

Investors are more bearish on shares of the company lately if you evaluate the change in short interest. The stock had a rise in short interest from September 29, 2017 to October 13, 2017 of 126.28%. Short interest grew from 30,836 to 69,777 over that timeframe. The days to cover decreased to 0.0 and the short interest percentage is 0.00% as of October 13.

ING Prime Rate Trust (NYSE:PPR) has been the object of insider selling activity recently. Michael J. Roland, Director disclosed the sale of 49,250 shares of (PPR). The shares were sold on October 2nd for an average price of $5.21. Roland now owns $0 of the stock according to the SEC filing.

These funds have shifted positions in (PPR). Millennium Management LLC expanded its stake by buying 13,067 shares an increase of 47.6% from 06/30/2017 to 09/30/2017. Millennium Management LLC now holds 40,521 shares with a value of $212,000. The value of the position overall is up by 43.2%. As of quarter end Wolverine Asset Management LLC had bought a total of 142,673 shares growing its holdings by 332.6%. The value in dollars went from $230,000 to $970,000 a change of 321.7% for the reporting period.

Guggenheim Capital LLC bolstered its holdings by buying 1,229 shares an increase of 0.6% in the quarter. Guggenheim Capital LLC owns 192,330 shares valued at $1,006,000. The total value of its holdings decreased 2.1%. Morgan Stanley reduced its ownership by selling 102,081 shares a decrease of 23.1%. Morgan Stanley claims 339,549 shares worth $1,776,000. The value of the position overall is down by 25.3%.

In the market the company is trading up from yesterday’s close of 5.05. The company currently has a P/E ratio of N/A and the market cap is 752.24M.

ING Prime Rate Trust (the Trust) is a diversified closed-end management investment company. The Trust seeks to provide a high a level of current income together with the preservation of capital. It invests least 80% of its net assets, plus the amount of any borrowings for investment purposes, in United States dollar-denominated, floating-rate secured senior loans. It also invests a substantial portion of its assets in below investment-grade senior loans and other below investment-grade assets..