PGIM Global High Yield Fund (NYSE:GHY) Shares Break Below Fifty Day Moving Average – What’s Next?

PGIM Global High Yield Fund, Inc (NYSE:GHY) crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $11.00 and traded as low as $10.86. PGIM Global High Yield Fund shares last traded at $10.9310, with a volume of 102,620 shares traded.

PGIM Global High Yield Fund Stock Down 0.7%

The business has a 50 day moving average price of $11.00 and a 200-day moving average price of $11.76.

PGIM Global High Yield Fund Announces Dividend

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

Institutional Trading of PGIM Global High Yield Fund

Several large investors have recently bought and sold shares of GHY. Royal Bank of Canada raised its stake in shares of PGIM Global High Yield Fund by 1.6% during the first quarter. Royal Bank of Canada now owns 534,258 shares of the company’s stock valued at $6,224,000 after purchasing an additional 8,412 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of PGIM Global High Yield Fund by 177.9% in the second quarter. Envestnet Asset Management Inc. now owns 453,420 shares of the company’s stock valued at $5,486,000 after purchasing an additional 290,279 shares during the period. Cetera Investment Advisers boosted its stake in shares of PGIM Global High Yield Fund by 5.6% in the first quarter. Cetera Investment Advisers now owns 421,366 shares of the company’s stock valued at $4,909,000 after purchasing an additional 22,400 shares during the period. Avestar Capital LLC boosted its stake in shares of PGIM Global High Yield Fund by 6.5% in the second quarter. Avestar Capital LLC now owns 179,800 shares of the company’s stock valued at $2,176,000 after purchasing an additional 11,000 shares during the period. Finally, Landscape Capital Management L.L.C. grew its holdings in PGIM Global High Yield Fund by 95.2% during the 2nd quarter. Landscape Capital Management L.L.C. now owns 84,811 shares of the company’s stock valued at $1,026,000 after purchasing 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.