PGIM High Yield Bond Fund (NYSE:ISD) Share Price Crosses Below 50-Day Moving Average – Here’s Why

PGIM High Yield Bond Fund, Inc. (NYSE:ISD)’s stock price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $13.13 and traded as low as $12.77. PGIM High Yield Bond Fund shares last traded at $12.8270, with a volume of 43,555 shares changing hands.

PGIM High Yield Bond Fund Stock Performance

The business’s 50 day moving average is $13.12 and its two-hundred day moving average is $13.84.

PGIM High Yield Bond Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.105 per share. This represents a c) annualized dividend and a dividend yield of 9.9%. The ex-dividend date of this dividend is Thursday, August 13th.

Institutional Investors Weigh In On PGIM High Yield Bond Fund

A number of hedge funds have recently bought and sold shares of ISD. Intellus Advisors LLC increased its holdings in shares of PGIM High Yield Bond Fund by 9.6% in the 4th quarter. Intellus Advisors LLC now owns 17,494 shares of the company’s stock worth $253,000 after buying an additional 1,527 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of PGIM High Yield Bond Fund by 3.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 42,010 shares of the company’s stock valued at $604,000 after acquiring an additional 1,567 shares during the last quarter. Private Advisor Group LLC grew its position in PGIM High Yield Bond Fund by 1.1% in the first quarter. Private Advisor Group LLC now owns 150,223 shares of the company’s stock worth $1,977,000 after acquiring an additional 1,596 shares in the last quarter. Mallini Complete Financial Planning LLC increased its stake in PGIM High Yield Bond Fund by 8.5% during the fourth quarter. Mallini Complete Financial Planning LLC now owns 21,857 shares of the company’s stock worth $316,000 after acquiring an additional 1,706 shares during the last quarter. Finally, Fifth Third Bancorp bought a new stake in PGIM High Yield Bond Fund during the first quarter worth approximately $26,000.

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.