Short Interest in PGIM Global High Yield Fund, Inc (NYSE:GHY) Grows By 80.5%

PGIM Global High Yield Fund, Inc (NYSE:GHY) saw a significant increase in short interest in July. As of July 31st, there was short interest totaling 32,902 shares, an increase of 80.5% from the July 15th total of 18,227 shares. Based on an average daily volume of 130,149 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Royal Bank of Canada grew its position in PGIM Global High Yield Fund by 267.2% in the fourth quarter. Royal Bank of Canada now owns 525,846 shares of the company’s stock worth $6,489,000 after acquiring an additional 382,645 shares in the last quarter. Readystate Asset Management LP lifted its stake in shares of PGIM Global High Yield Fund by 1,110.3% in the 4th quarter. Readystate Asset Management LP now owns 234,971 shares of the company’s stock valued at $2,900,000 after purchasing an additional 215,557 shares during the last quarter. Shaker Financial Services LLC boosted its holdings in shares of PGIM Global High Yield Fund by 646.9% in the 4th quarter. Shaker Financial Services LLC now owns 221,488 shares of the company’s stock worth $2,754,000 after purchasing an additional 191,834 shares during the period. Invesco Ltd. boosted its holdings in shares of PGIM Global High Yield Fund by 26.5% in the 4th quarter. Invesco Ltd. now owns 519,176 shares of the company’s stock worth $6,407,000 after purchasing an additional 108,885 shares during the period. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of PGIM Global High Yield Fund in the 4th quarter worth approximately $1,120,000.

PGIM Global High Yield Fund Price Performance

GHY stock traded down $0.04 during trading on Friday, hitting $11.68. 136,716 shares of the company’s stock traded hands, compared to its average volume of 148,848. PGIM Global High Yield Fund has a 52 week low of $11.25 and a 52 week high of $13.43. The business has a fifty day simple moving average of $11.83 and a 200 day simple moving average of $12.04.

PGIM Global High Yield Fund Dividend Announcement

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 given a dividend of $0.105 per share. This represents a c) annualized dividend and a dividend yield of 10.8%. The ex-dividend date is Thursday, August 13th.

About PGIM Global High Yield Fund

PGIM Global High Yield Fund (NYSE: GHY) is a closed-end management investment company that seeks to provide current income and capital appreciation by investing primarily in high-yield corporate debt securities. Managed by PGIM, the global investment management business of Prudential Financial, Inc, the fund offers investors access to a diversified portfolio of bonds issued by companies around the world. Its objective is to capitalize on credit spread opportunities in both developed and emerging markets.

The fund’s investment strategy centers on fundamental credit research and bottom-up security selection.