PGIM High Yield Bond Fund, Inc. (NYSE:ISD) Sees Significant Drop in Short Interest

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) was the target of a significant drop in short interest during the month of April. As of April 30th, there was short interest totaling 29,373 shares, a drop of 49.6% from the April 15th total of 58,248 shares. Based on an average daily volume of 87,418 shares, the short-interest ratio is presently 0.3 days.

PGIM High Yield Bond Fund Stock Down 1.6%

Shares of NYSE:ISD traded down $0.21 on Friday, hitting $12.99. 107,330 shares of the company’s stock were exchanged, compared to its average volume of 88,081. PGIM High Yield Bond Fund has a 12 month low of $12.53 and a 12 month high of $14.79. The business’s 50 day simple moving average is $13.32 and its two-hundred day simple moving average is $14.11.

PGIM High Yield Bond Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Sunday, May 31st. Stockholders of record on Thursday, May 14th will be given a dividend of $0.105 per share. This represents a c) annualized dividend and a dividend yield of 9.7%. The ex-dividend date is Thursday, May 14th.

Institutional Trading of PGIM High Yield Bond Fund

Several institutional investors and hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers raised its stake in shares of PGIM High Yield Bond Fund by 3.1% during the first quarter. Cetera Investment Advisers now owns 171,475 shares of the company’s stock valued at $2,257,000 after acquiring an additional 5,089 shares in the last quarter. SteelPeak Wealth LLC raised its stake in shares of PGIM High Yield Bond Fund by 7.5% during the first quarter. SteelPeak Wealth LLC now owns 794,786 shares of the company’s stock valued at $10,459,000 after acquiring an additional 55,132 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of PGIM High Yield Bond Fund during the first quarter valued at approximately $26,000. Private Advisor Group LLC raised its stake in shares of PGIM High Yield Bond Fund by 1.1% during the first quarter. Private Advisor Group LLC now owns 150,223 shares of the company’s stock valued at $1,977,000 after acquiring an additional 1,596 shares in the last quarter. Finally, IHT Wealth Management LLC raised its stake in shares of PGIM High Yield Bond Fund by 21.1% during the fourth quarter. IHT Wealth Management LLC now owns 19,673 shares of the company’s stock valued at $285,000 after acquiring an additional 3,428 shares in the last quarter.

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.