PGIM High Yield Bond Fund, Inc. (NYSE:ISD) Sees Large Decrease in Short Interest

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) was the target of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 24,300 shares, a drop of 82.6% from the October 31st total of 139,800 shares. Based on an average trading volume of 132,200 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On PGIM High Yield Bond Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of ISD. Penserra Capital Management LLC purchased a new position in PGIM High Yield Bond Fund in the third quarter worth $5,007,000. SteelPeak Wealth LLC increased its position in PGIM High Yield Bond Fund by 117.4% during the 2nd quarter. SteelPeak Wealth LLC now owns 487,696 shares of the company’s stock valued at $6,282,000 after buying an additional 263,316 shares in the last quarter. International Assets Investment Management LLC raised its stake in PGIM High Yield Bond Fund by 1,294.0% in the third quarter. International Assets Investment Management LLC now owns 241,594 shares of the company’s stock valued at $3,368,000 after buying an additional 224,263 shares during the last quarter. Raymond James & Associates boosted its holdings in PGIM High Yield Bond Fund by 35.2% in the second quarter. Raymond James & Associates now owns 436,727 shares of the company’s stock worth $5,625,000 after acquiring an additional 113,585 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of PGIM High Yield Bond Fund by 169.3% during the first quarter. Cetera Investment Advisers now owns 158,777 shares of the company’s stock worth $2,063,000 after acquiring an additional 99,821 shares during the last quarter.

PGIM High Yield Bond Fund Price Performance

ISD traded up $0.10 on Wednesday, hitting $13.86. The company had a trading volume of 140,947 shares, compared to its average volume of 126,896. The stock has a fifty day moving average price of $13.91 and a 200-day moving average price of $13.44. PGIM High Yield Bond Fund has a 12-month low of $11.81 and a 12-month high of $14.43.

PGIM High Yield Bond Fund Dividend Announcement

The company also recently disclosed a dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a dividend of $0.105 per share. The ex-dividend date was Thursday, September 12th. This represents a dividend yield of 9.09%.

PGIM High Yield Bond Fund Company Profile

PGIM High Yield Bond Fund, Inc is a close ended fixed income mutual fund launched and managed by Prudential Investments LLC. The fund is co-managed by Prudential Investment Management, Inc It invests in the fixed income markets of the United States. The fund primarily invests in a diversified portfolio of high yield fixed income instruments that are rated below investment grade (Ba1 or lower by Moody’s Investors Service, Inc or BB+ or lower by Standard & Poor’s Ratings Services).