Northwestern Mutual Wealth Management Co. Increases Position in PGIM High Yield Bond Fund, Inc. $ISD

Northwestern Mutual Wealth Management Co. increased its stake in PGIM High Yield Bond Fund, Inc. (NYSE:ISD) by 84.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,526 shares of the company’s stock after purchasing an additional 96,461 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in PGIM High Yield Bond Fund were worth $3,046,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ISD. Royal Bank of Canada increased its holdings in shares of PGIM High Yield Bond Fund by 4.5% in the 1st quarter. Royal Bank of Canada now owns 210,373 shares of the company’s stock valued at $2,997,000 after purchasing an additional 8,976 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of PGIM High Yield Bond Fund in the 1st quarter valued at about $217,000. Raymond James Financial Inc. increased 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 valued at $10,744,000 after purchasing an additional 51,614 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of PGIM High Yield Bond Fund in the 2nd quarter valued at about $350,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of PGIM High Yield Bond Fund by 16.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 263,469 shares of the company’s stock valued at $3,733,000 after purchasing an additional 36,485 shares in the last quarter.

PGIM High Yield Bond Fund Trading Down 0.2%

Shares of ISD opened at $12.92 on Tuesday. The company has a 50-day simple moving average of $13.19 and a 200-day simple moving average of $14.04. PGIM High Yield Bond Fund, Inc. has a 52-week low of $12.53 and a 52-week high of $14.79.

PGIM High Yield Bond Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Sunday, May 31st. Stockholders of record on Thursday, May 14th will be issued a $0.105 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.8%. The ex-dividend date is Thursday, May 14th.

About PGIM High Yield Bond Fund

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.