PGIM High Yield Bond Fund (NYSE:ISD) Share Price Crosses Below Fifty Day Moving Average – Here’s Why

Shares of PGIM High Yield Bond Fund, Inc. (NYSE:ISD) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $13.88 and traded as low as $13.73. PGIM High Yield Bond Fund shares last traded at $13.90, with a volume of 102,735 shares changing hands.

PGIM High Yield Bond Fund Stock Performance

The company has a 50 day moving average price of $13.87 and a 200 day moving average price of $13.71.

PGIM High Yield Bond Fund Announces Dividend

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $0.105 dividend. This represents a yield of 8.87%. The ex-dividend date was Thursday, December 12th.

Hedge Funds Weigh In On PGIM High Yield Bond Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FSA Wealth Management LLC acquired a new position in shares of PGIM High Yield Bond Fund during the 3rd quarter worth approximately $68,000. IHT Wealth Management LLC raised its holdings in shares of PGIM High Yield Bond Fund by 67.8% in the third quarter. IHT Wealth Management LLC now owns 17,916 shares of the company’s stock worth $250,000 after acquiring an additional 7,240 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of PGIM High Yield Bond Fund in the second quarter valued at $258,000. Jane Street Group LLC acquired a new stake in shares of PGIM High Yield Bond Fund during the third quarter valued at $322,000. Finally, Activest Wealth Management increased its position in PGIM High Yield Bond Fund by 167.6% during the 3rd quarter. Activest Wealth Management now owns 46,803 shares of the company’s stock worth $652,000 after purchasing an additional 29,314 shares in the last quarter.

About PGIM High Yield Bond Fund

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).