PGIM Global High Yield Fund, Inc (NYSE:GHY) Sees Large Increase in Short Interest

PGIM Global High Yield Fund, Inc (NYSE:GHY) was the recipient of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 123,500 shares, an increase of 129.6% from the November 30th total of 53,800 shares. Based on an average daily trading volume, of 155,300 shares, the days-to-cover ratio is currently 0.8 days.

PGIM Global High Yield Fund Price Performance

GHY opened at $12.42 on Friday. PGIM Global High Yield Fund has a twelve month low of $11.05 and a twelve month high of $13.11. The firm has a 50 day moving average price of $12.69 and a 200-day moving average price of $12.51.

PGIM Global High Yield Fund Announces Dividend

The company also recently declared a dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.105 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a dividend yield of 9.75%.

Insider Activity

In other PGIM Global High Yield Fund news, Director Barry H. Evans sold 41,885 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $12.99, for a total value of $544,086.15. Following the completion of the transaction, the director now owns 42,053 shares of the company’s stock, valued at approximately $546,268.47. The trade was a 49.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Trading of PGIM Global High Yield Fund

A number of hedge funds have recently bought and sold shares of the company. Pine Valley Investments Ltd Liability Co bought a new stake in shares of PGIM Global High Yield Fund during the 3rd quarter valued at about $179,000. Avestar Capital LLC boosted its holdings in shares of PGIM Global High Yield Fund by 64.3% in the third quarter. Avestar Capital LLC now owns 114,940 shares of the company’s stock worth $1,469,000 after buying an additional 45,000 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in PGIM Global High Yield Fund during the third quarter valued at approximately $4,889,000. Activest Wealth Management raised its position in PGIM Global High Yield Fund by 23.3% in the third quarter. Activest Wealth Management now owns 20,961 shares of the company’s stock worth $268,000 after acquiring an additional 3,961 shares during the period. Finally, Advisors Asset Management Inc. grew its position in shares of PGIM Global High Yield Fund by 2.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 800,239 shares of the company’s stock valued at $10,227,000 after acquiring an additional 20,555 shares during the period.

PGIM Global High Yield Fund Company Profile

PGIM Global Short Duration High Yield Fund, Inc is a closed ended fixed income mutual fund launched and managed by PGIM Investments LLC. The fund is co-managed by PGIM Fixed Income. It invests in fixed income markets across the globe. The fund primarily invests in high yield fixed income instruments of varying maturities that are rated Ba1 or lower by Moody’s Investors Service, Inc or BB+ or lower by Standard & Poor’s Ratings Services.