PGIM High Yield Bond Fund, Inc. (NYSE:ISD) Short Interest Update

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) was the target of a large growth in short interest in June. As of June 30th, there was short interest totaling 26,143 shares, a growth of 127.8% from the June 15th total of 11,478 shares. Based on an average daily volume of 122,442 shares, the short-interest ratio is presently 0.2 days.

Hedge Funds Weigh In On PGIM High Yield Bond Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its stake in shares of PGIM High Yield Bond Fund by 84.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 210,526 shares of the company’s stock valued at $3,046,000 after buying an additional 96,461 shares in the last quarter. Savvy Advisors Inc. purchased a new stake in shares of PGIM High Yield Bond Fund during the 4th quarter valued at about $1,378,000. Allworth Financial LP acquired a new position in PGIM High Yield Bond Fund during the 4th quarter worth approximately $68,000. Intellus Advisors LLC lifted its position in PGIM High Yield Bond Fund by 9.6% during the 4th quarter. Intellus Advisors LLC now owns 17,494 shares of the company’s stock worth $253,000 after acquiring an additional 1,527 shares in the last quarter. Finally, Readystate Asset Management LP purchased a new position in PGIM High Yield Bond Fund in the 1st quarter worth approximately $227,000.

PGIM High Yield Bond Fund Trading Down 0.2%

Shares of NYSE:ISD opened at $12.74 on Wednesday. The stock has a 50-day simple moving average of $12.95 and a 200-day simple moving average of $13.63. PGIM High Yield Bond Fund has a 1 year low of $12.53 and a 1 year high of $14.79.

PGIM High Yield Bond Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Thursday, August 13th will be paid a $0.105 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date of this dividend is Thursday, August 13th.

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.