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

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 91,700 shares, a drop of 36.2% from the December 15th total of 143,800 shares. Based on an average daily trading volume, of 117,300 shares, the days-to-cover ratio is currently 0.8 days.

PGIM High Yield Bond Fund Stock Up 0.3 %

Shares of ISD stock traded up $0.05 during trading hours on Friday, reaching $13.76. 104,958 shares of the stock traded hands, compared to its average volume of 128,420. PGIM High Yield Bond Fund has a 1-year low of $12.20 and a 1-year high of $14.43. The business has a fifty day moving average price of $13.85 and a 200 day moving average price of $13.74.

PGIM High Yield Bond Fund Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a dividend of $0.105 per share. This represents a yield of 8.87%. The ex-dividend date of this dividend was Thursday, December 12th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC acquired a new stake in shares of PGIM High Yield Bond Fund during the third quarter worth approximately $322,000. Stifel Financial Corp purchased a new position in shares of PGIM High Yield Bond Fund during the 3rd quarter valued at $675,000. IHT Wealth Management LLC increased its stake in shares of PGIM High Yield Bond Fund by 67.8% in the third quarter. IHT Wealth Management LLC now owns 17,916 shares of the company’s stock worth $250,000 after acquiring an additional 7,240 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in PGIM High Yield Bond Fund during the third quarter valued at $68,000. Finally, Penserra Capital Management LLC purchased a new position in PGIM High Yield Bond Fund in the third quarter valued at about $5,007,000.

PGIM High Yield Bond Fund Company Profile

PGIM High Yield Bond 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).