PGIM High Yield Bond Fund, Inc. (NYSE:ISD) Short Interest Update

by · The Markets Daily

PGIM High Yield Bond Fund, Inc. (NYSE:ISD – Get Free Report) was the recipient of a significant decline in short interest during the month of July. As of July 15th, there was short interest totaling 8,492 shares, a decline of 67.5% from the June 30th total of 26,143 shares. Based on an average trading volume of 103,391 shares, the days-to-cover ratio is currently 0.1 days.

PGIM High Yield Bond Fund Trading Down 0.5%

Shares of ISD stock traded down $0.07 during trading hours on Tuesday, hitting $12.47. 85,041 shares of the company were exchanged, compared to its average volume of 98,256. The firm has a fifty day simple moving average of $12.84 and a 200 day simple moving average of $13.51. PGIM High Yield Bond Fund has a 52-week low of $12.31 and a 52-week high of $14.79.

PGIM High Yield Bond Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.105 per share. This represents a c) annualized dividend and a yield of 10.1%. The ex-dividend date of this dividend is Thursday, August 13th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its stake in PGIM High Yield Bond Fund by 84.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 210,526 shares of the company’s stock worth $3,046,000 after buying an additional 96,461 shares in the last quarter. Savvy Advisors Inc. bought a new stake in shares of PGIM High Yield Bond Fund during the 4th quarter worth $1,378,000. SteelPeak Wealth LLC lifted its stake in PGIM High Yield Bond Fund by 7.5% during the first quarter. SteelPeak Wealth LLC now owns 794,786 shares of the company’s stock worth $10,459,000 after purchasing an additional 55,132 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in shares of PGIM High Yield Bond Fund by 7.3% in the 2nd quarter. Raymond James Financial Inc. now owns 758,216 shares of the company’s stock worth $10,744,000 after purchasing an additional 51,614 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of PGIM High Yield Bond Fund by 2.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 835,336 shares of the company’s stock valued at $12,087,000 after purchasing an additional 19,216 shares during the last quarter.

About PGIM High Yield Bond Fund

(Get Free Report)

PGIM High Yield Bond Fund (NYSE:ISD) is an exchange‐traded fund designed to provide investors with broad exposure to the high yield corporate debt market. Launched and managed by PGIM Investments, the fund seeks to generate current income by investing predominantly in U.S. dollar‐denominated below‐investment‐grade corporate bonds. Through its open‐end structure, ISD offers daily liquidity, allowing investors to gain access to a diversified portfolio of high yield debt instruments across a range of industries.

The fund’s investment approach emphasizes rigorous, bottom‐up credit research conducted by PGIM’s global fixed income team.

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