PGIM Global High Yield Fund (NYSE:GHY) Stock Price Up 1.1% – What’s Next?

PGIM Global High Yield Fund, Inc (NYSE:GHY) traded up 1.1% during mid-day trading on Wednesday. The stock traded as high as $11.01 and last traded at $11.0020. 234,306 shares changed hands during trading, an increase of 48% from the average daily volume of 158,447 shares. The stock had previously closed at $10.88.

PGIM Global High Yield Fund Stock Performance

The business’s 50 day simple moving average is $11.05 and its 200 day simple moving average is $11.80.

PGIM Global High Yield Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Thursday, November 12th will be issued a dividend of $0.1050 per share. The ex-dividend date is Thursday, November 12th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 11.5%.

Institutional Investors Weigh In On PGIM Global High Yield Fund

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE acquired a new stake in shares of PGIM Global High Yield Fund in the second quarter worth $730,000. Envestnet Asset Management Inc. raised its position in PGIM Global High Yield Fund by 177.9% during the second quarter. Envestnet Asset Management Inc. now owns 453,420 shares of the company’s stock valued at $5,486,000 after buying an additional 290,279 shares during the period. Susquehanna International Group LLP acquired a new position in PGIM Global High Yield Fund during the second quarter valued at $203,000. IMC Chicago LLC purchased a new stake in PGIM Global High Yield Fund in the 2nd quarter worth about $246,000. Finally, Landscape Capital Management L.L.C. lifted its stake in PGIM Global High Yield Fund by 95.2% in the 2nd quarter. Landscape Capital Management L.L.C. now owns 84,811 shares of the company’s stock worth $1,026,000 after acquiring an additional 41,372 shares in the last quarter.

About PGIM Global High Yield Fund

PGIM Global High Yield Fund, Inc (NYSE: GHY) is a closed-end investment company that seeks to provide investors with a high level of current income, with capital appreciation as a secondary objective. The fund is managed by PGIM, the global investment management business of Prudential Financial.

The fund invests primarily in high-yield, below-investment-grade debt securities, commonly known as “junk bonds.” Its portfolio may include corporate bonds, loans and other fixed-income instruments issued by companies and governments in the United States and other countries.