PGIM High Yield Bond Fund, Inc. (NYSE:ISD) Shares Shorted: Short Interest Down 51.5% in September

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 38,542 shares, a drop of 51.5% from the September 15th total of 79,406 shares. Based on an average daily trading volume, of 190,050 shares, the days-to-cover ratio is currently 0.2 days.

PGIM High Yield Bond Fund Stock Down 1.4%

NYSE ISD traded down $0.16 on Wednesday, hitting $11.50. 201,650 shares of the company were exchanged, compared to its average volume of 117,025. The stock has a fifty day moving average of $12.09 and a 200-day moving average of $12.66. PGIM High Yield Bond Fund has a 12 month low of $11.46 and a 12 month high of $14.79.

PGIM High Yield Bond Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Thursday, November 12th will be paid a $0.1050 dividend. The ex-dividend date is Thursday, November 12th. This represents a $1.26 annualized dividend and a dividend yield of 11.0%.

Institutional Investors Weigh In On PGIM High Yield Bond Fund

Hedge funds have recently added to or reduced their stakes in the company. Tactive Advisors LLC acquired a new position in shares of PGIM High Yield Bond Fund during the third quarter worth approximately $132,000. Noble Wealth Management PBC acquired a new stake in PGIM High Yield Bond Fund in the 3rd quarter valued at $27,000. Integrated Wealth Concepts LLC acquired a new stake in PGIM High Yield Bond Fund in the 2nd quarter valued at $52,000. NewEdge Advisors LLC increased its stake in 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 valued at $903,000 after purchasing an additional 23,867 shares in the last quarter. Finally, Readystate Asset Management LP increased its stake in PGIM High Yield Bond Fund by 350.6% during the 2nd quarter. Readystate Asset Management LP now owns 77,863 shares of the company’s stock valued at $1,017,000 after purchasing an additional 60,583 shares in the last quarter.

PGIM High Yield Bond Fund Company Profile

PGIM High Yield Bond Fund, Inc (NYSE: ISD) is a closed-end investment fund that seeks to provide a high level of current income, with capital appreciation as a secondary objective. The fund is managed by PGIM Investments, part of Prudential Financial’s global investment management business.

The fund invests primarily in high-yield corporate bonds, commonly known as below-investment-grade or “junk” bonds. Its portfolio may include debt securities issued by companies across a range of industries and may also include securities issued by non-U.S.