PGIM Global High Yield Fund, Inc (NYSE:GHY) Sees Significant Decline in Short Interest

PGIM Global High Yield Fund, Inc (NYSE:GHY) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totalling 96,100 shares, a drop of 22.2% from the December 15th total of 123,500 shares. Based on an average daily volume of 176,500 shares, the days-to-cover ratio is currently 0.5 days.

Insider Buying and Selling at PGIM Global High Yield Fund

In other PGIM Global High Yield Fund news, Director Barry H. Evans sold 41,885 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $12.99, for a total transaction of $544,086.15. Following the transaction, the director now owns 42,053 shares of the company’s stock, valued at $546,268.47. This trade represents a 49.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Future Financial Wealth Managment LLC bought a new stake in shares of PGIM Global High Yield Fund in the 3rd quarter worth approximately $36,000. Advisor Resource Council bought a new stake in shares of PGIM Global High Yield Fund in the 3rd quarter worth approximately $136,000. Pine Valley Investments Ltd Liability Co bought a new stake in shares of PGIM Global High Yield Fund in the 3rd quarter worth approximately $179,000. Activest Wealth Management lifted its holdings in shares of PGIM Global High Yield Fund by 23.3% in the 3rd quarter. Activest Wealth Management now owns 20,961 shares of the company’s stock worth $268,000 after purchasing an additional 3,961 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of PGIM Global High Yield Fund by 4.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 23,030 shares of the company’s stock worth $274,000 after purchasing an additional 1,050 shares during the last quarter.

PGIM Global High Yield Fund Trading Down 0.9 %

NYSE:GHY traded down $0.11 during trading hours on Thursday, reaching $12.60. 154,542 shares of the stock were exchanged, compared to its average volume of 299,829. The firm has a 50 day simple moving average of $12.70 and a 200-day simple moving average of $12.58. PGIM Global High Yield Fund has a 52 week low of $11.05 and a 52 week high of $13.31.

PGIM Global High Yield 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 issued a dividend of $0.105 per share. This represents a yield of 9.75%. The ex-dividend date was Thursday, December 12th.

PGIM Global High Yield Fund Company Profile

PGIM Global Short Duration High Yield Fund, Inc is a closed ended fixed income mutual fund launched and managed by PGIM Investments LLC. The fund is co-managed by PGIM Fixed Income. It invests in fixed income markets across the globe. The fund primarily invests in high yield fixed income instruments of varying maturities that are rated Ba1 or lower by Moody’s Investors Service, Inc or BB+ or lower by Standard & Poor’s Ratings Services.