PGIM High Yield Bond Fund, Inc (NYSE:ISD) Sees Large Growth in Short Interest


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PGIM High Yield Bond Fund, Inc (NYSE:ISD) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 58,800 shares, a growth of 20.2% from the March 31st total of 48,900 shares. Based on an average daily trading volume, of 97,100 shares, the short-interest ratio is currently 0.6 days.

Shares of ISD stock traded down $0.08 during trading hours on Tuesday, hitting $16.05. The stock had a trading volume of 137,656 shares, compared to its average volume of 102,970. The stock’s 50 day moving average is $15.75 and its 200 day moving average is $15.07. PGIM High Yield Bond Fund has a twelve month low of $11.95 and a twelve month high of $16.17.

The firm also recently declared a monthly dividend, which will be paid on Friday, May 28th. Investors of record on Friday, May 14th will be paid a dividend of $0.105 per share. This represents a $1.26 dividend on an annualized basis and a yield of 7.85%. The ex-dividend date is Thursday, May 13th.

In related news, insider Michael Lillard purchased 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 30th. The shares were purchased at an average cost of $15.60 per share, for a total transaction of $140,400.00. Following the purchase, the insider now directly owns 13,677 shares of the company’s stock, valued at $213,361.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

A number of institutional investors have recently modified their holdings of the business. Penserra Capital Management LLC raised its holdings in shares of PGIM High Yield Bond Fund by 7.5% in the fourth quarter. Penserra Capital Management LLC now owns 808,145 shares of the company’s stock valued at $12,122,000 after buying an additional 56,650 shares during the last quarter. Morgan Stanley raised its stake in PGIM High Yield Bond Fund by 5.5% during the 4th quarter. Morgan Stanley now owns 787,204 shares of the company’s stock valued at $11,808,000 after acquiring an additional 41,332 shares during the last quarter. Capital Investment Advisors LLC raised its stake in PGIM High Yield Bond Fund by 6.2% during the 1st quarter. Capital Investment Advisors LLC now owns 387,433 shares of the company’s stock valued at $6,067,000 after acquiring an additional 22,535 shares during the last quarter. Baird Financial Group Inc. lifted its position in PGIM High Yield Bond Fund by 2.3% during the 4th quarter. Baird Financial Group Inc. now owns 256,827 shares of the company’s stock worth $3,852,000 after acquiring an additional 5,747 shares during the period. Finally, Guggenheim Capital LLC grew its stake in shares of PGIM High Yield Bond Fund by 6.1% in the 4th quarter. Guggenheim Capital LLC now owns 202,529 shares of the company’s stock valued at $3,038,000 after purchasing an additional 11,639 shares during the last quarter.

About PGIM High Yield Bond Fund

Prudential Short Duration High Yield Fund, Inc is a close ended fixed income mutual fund launched and managed by Prudential Investments LLC. The fund is co-managed by Prudential Investment Management, Inc It invests in the fixed income markets of the United States. The fund primarily invests in a diversified portfolio of high yield fixed income instruments that are rated below investment grade (Ba1 or lower by Moody's Investors Service, Inc or BB+ or lower by Standard & Poor's Ratings Services).

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