PGIM Global High Yield Fund (NYSE:GHY) Shares Up 3.3% – Still a Buy?

PGIM Global High Yield Fund, Inc (NYSE:GHY) shares shot up 3.3% on Tuesday . The stock traded as high as $11.67 and last traded at $11.64. 310,957 shares changed hands during mid-day trading, an increase of 94% from the average session volume of 160,053 shares. The stock had previously closed at $11.27.

PGIM Global High Yield Fund Trading Up 3.3%

The firm’s fifty day moving average is $12.43 and its 200-day moving average is $12.51.

PGIM Global High Yield Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Sunday, May 31st. Investors of record on Thursday, May 14th will be given a dividend of $0.105 per share. The ex-dividend date is Thursday, May 14th. This represents a c) dividend on an annualized basis and a yield of 10.8%.

Institutional Trading of PGIM Global High Yield Fund

Large investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC grew its holdings in PGIM Global High Yield Fund by 4.8% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 78,098 shares of the company’s stock worth $1,047,000 after acquiring an additional 3,605 shares during the last quarter. Invesco Ltd. increased its holdings in shares of PGIM Global High Yield Fund by 2.2% in the second quarter. Invesco Ltd. now owns 412,289 shares of the company’s stock valued at $5,529,000 after purchasing an additional 8,859 shares in the last quarter. Guggenheim Capital LLC increased its holdings in shares of PGIM Global High Yield Fund by 12.5% in the second quarter. Guggenheim Capital LLC now owns 496,345 shares of the company’s stock valued at $6,656,000 after purchasing an additional 55,004 shares in the last quarter. Avestar Capital LLC lifted its holdings in PGIM Global High Yield Fund by 6.8% during the 2nd quarter. Avestar Capital LLC now owns 156,700 shares of the company’s stock worth $2,101,000 after buying an additional 10,000 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in PGIM Global High Yield Fund by 28.6% during the 2nd quarter. Jane Street Group LLC now owns 13,878 shares of the company’s stock worth $186,000 after buying an additional 3,090 shares in the last quarter.

PGIM Global High Yield Fund Company Profile

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.