PGIM High Yield Bond Fund, Inc. (NYSE:ISD) Shares Shorted: Short Interest Up 303.8% in September

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) saw a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 79,406 shares, an increase of 303.8% from the August 31st total of 19,664 shares. Based on an average trading volume of 201,057 shares, the days-to-cover ratio is currently 0.4 days.

PGIM High Yield Bond Fund Price Performance

ISD traded up $0.06 during trading on Friday, reaching $11.62. 112,373 shares of the company’s stock were exchanged, compared to its average volume of 112,481. The company’s fifty day moving average price is $12.33 and its 200-day moving average price is $12.82. PGIM High Yield Bond Fund has a fifty-two week low of $11.46 and a fifty-two week high of $14.79.

PGIM High Yield Bond Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 12th will be issued a $0.1050 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 10.8%. The ex-dividend date is Thursday, November 12th.

Hedge Funds Weigh In On PGIM High Yield Bond Fund

Several institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC acquired a new position in shares of PGIM High Yield Bond Fund in the 2nd quarter valued at $52,000. NewEdge Advisors LLC increased its position in shares of PGIM High Yield Bond Fund by 52.7% during the 2nd quarter. NewEdge Advisors LLC now owns 69,122 shares of the company’s stock worth $903,000 after purchasing an additional 23,867 shares during the last quarter. Readystate Asset Management LP lifted its stake in PGIM High Yield Bond Fund by 350.6% in the second quarter. Readystate Asset Management LP now owns 77,863 shares of the company’s stock valued at $1,017,000 after acquiring an additional 60,583 shares during the last quarter. Susquehanna International Group LLP bought a new position in shares of PGIM High Yield Bond Fund during the 2nd quarter worth approximately $155,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in PGIM High Yield Bond Fund by 17.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 209,371 shares of the company’s stock valued at $2,734,000 after buying an additional 30,754 shares during the last quarter.

PGIM High Yield Bond Fund Company Profile

PGIM High Yield Bond Fund, Inc (NYSE: ISD) is a closed-end investment fund managed by PGIM Investments, the asset-management business of Prudential Financial. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective, by investing primarily in high-yield corporate debt securities.

The fund generally invests in below-investment-grade bonds, commonly known as high-yield or “junk” bonds, issued by companies in a range of industries. Its portfolio may also include other fixed-income securities and obligations, with investment decisions focused on credit research, income generation and risk management.

PGIM High Yield Bond Fund is advised by investment professionals within PGIM, a global asset manager with operations serving institutional and individual investors in multiple regions.