PGIM High Yield Bond Fund (NYSE:ISD) Stock Passes Below Fifty Day Moving Average – What’s Next?

PGIM High Yield Bond Fund, Inc. (NYSE:ISD)’s share price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $14.50 and traded as low as $14.45. PGIM High Yield Bond Fund shares last traded at $14.4550, with a volume of 66,831 shares traded.

PGIM High Yield Bond Fund Trading Down 0.2%

The business has a fifty day simple moving average of $14.50 and a 200 day simple moving average of $14.43.

PGIM High Yield Bond Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Thursday, February 12th will be paid a dividend of $0.105 per share. The ex-dividend date of this dividend is Thursday, February 12th. This represents a c) dividend on an annualized basis and a dividend yield of 8.7%.

Insider Activity at PGIM High Yield Bond Fund

In other news, Director Brian Reid sold 16,833 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $14.41, for a total value of $242,563.53. Following the completion of the transaction, the director owned 3,064 shares of the company’s stock, valued at $44,152.24. The trade was a 84.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Trading of PGIM High Yield Bond Fund

Hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC raised its holdings in PGIM High Yield Bond Fund by 4.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 816,120 shares of the company’s stock valued at $11,736,000 after acquiring an additional 33,797 shares during the last quarter. Raymond James Financial Inc. grew its holdings in 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 valued at $10,744,000 after buying an additional 51,614 shares during the period. SteelPeak Wealth LLC increased its stake in shares of PGIM High Yield Bond Fund by 8.9% during the 3rd quarter. SteelPeak Wealth LLC now owns 716,961 shares of the company’s stock valued at $10,310,000 after acquiring an additional 58,802 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in shares of PGIM High Yield Bond Fund by 0.7% during the 2nd quarter. Guggenheim Capital LLC now owns 649,909 shares of the company’s stock worth $9,209,000 after acquiring an additional 4,539 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of PGIM High Yield Bond Fund by 8.0% during the 3rd quarter. Bank of America Corp DE now owns 498,694 shares of the company’s stock worth $7,171,000 after acquiring an additional 37,136 shares during the period.

PGIM High Yield Bond Fund Company Profile

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.