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

PGIM Global High Yield Fund, Inc (NYSE:GHY) was the recipient of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 57,109 shares, a growth of 73.6% from the July 30th total of 32,902 shares. Based on an average trading volume of 168,585 shares, the days-to-cover ratio is presently 0.3 days.

Hedge Funds Weigh In On PGIM Global High Yield Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in GHY. Csenge Advisory Group bought a new stake in PGIM Global High Yield Fund in the second quarter valued at $128,000. Global Retirement Partners LLC bought a new position in PGIM Global High Yield Fund in the 4th quarter worth $137,000. Personal CFO Solutions LLC bought a new position in PGIM Global High Yield Fund in the 1st quarter worth $136,000. Jane Street Group LLC lifted its position in shares of PGIM Global High Yield Fund by 28.6% in the 2nd quarter. Jane Street Group LLC now owns 13,878 shares of the company’s stock worth $186,000 after purchasing an additional 3,090 shares during the period. Finally, Evolve Private Wealth LLC bought a new stake in shares of PGIM Global High Yield Fund during the 4th quarter valued at about $204,000.

PGIM Global High Yield Fund Stock Down 0.5%

Shares of NYSE GHY traded down $0.06 during trading hours on Tuesday, hitting $11.54. The company’s stock had a trading volume of 51,591 shares, compared to its average volume of 146,685. PGIM Global High Yield Fund has a 12 month low of $11.25 and a 12 month high of $13.43. The business has a 50-day simple moving average of $11.79 and a 200-day simple moving average of $11.94.

PGIM Global High Yield Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Thursday, November 12th will be given a $0.105 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.9%. The ex-dividend date is Thursday, November 12th.

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.