PGIM High Yield Bond Fund, Inc. (NYSE:ISD) Short Interest Update

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 79,406 shares, a growth of 303.8% from the August 31st total of 19,664 shares. Based on an average daily trading volume, of 201,057 shares, the short-interest ratio is presently 0.4 days.

Institutional Investors Weigh In On PGIM High Yield Bond Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SteelPeak Wealth LLC boosted its holdings in PGIM High Yield Bond Fund by 7.5% during the first quarter. SteelPeak Wealth LLC now owns 794,786 shares of the company’s stock worth $10,459,000 after buying an additional 55,132 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of PGIM High Yield Bond Fund by 39.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 159,147 shares of the company’s stock valued at $2,303,000 after acquiring an additional 45,082 shares during the last quarter. Readystate Asset Management LP raised its position in shares of PGIM High Yield Bond Fund by 350.6% in the 2nd quarter. Readystate Asset Management LP now owns 77,863 shares of the company’s stock valued at $1,017,000 after acquiring an additional 60,583 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of PGIM High Yield Bond Fund in the 2nd quarter valued at approximately $1,522,000. Finally, Beacon Pointe Advisors LLC bought a new position in PGIM High Yield Bond Fund during the 2nd quarter worth approximately $367,000.

PGIM High Yield Bond Fund Price Performance

ISD stock traded up $0.10 during midday trading on Friday, reaching $11.66. The company’s stock had a trading volume of 179,355 shares, compared to its average volume of 112,890. The business’s 50-day simple moving average is $12.31 and its 200-day simple moving average is $12.81. PGIM High Yield Bond Fund has a 52 week low of $11.46 and a 52 week high of $14.79.

PGIM High Yield Bond Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Thursday, November 12th will be given a $0.1050 dividend. This represents a $1.26 annualized dividend and a dividend yield of 10.8%. The ex-dividend date is Thursday, November 12th.

About PGIM High Yield Bond Fund

PGIM High Yield Bond Fund, Inc (NYSE: ISD) is a closed-end investment fund managed by PGIM Investments, the asset-management business of Prudential Financial. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective, by investing primarily in high-yield corporate debt securities.

The fund generally invests in below-investment-grade bonds, commonly known as high-yield or “junk” bonds, issued by companies in a range of industries. Its portfolio may also include other fixed-income securities and obligations, with investment decisions focused on credit research, income generation and risk management.

PGIM High Yield Bond Fund is advised by investment professionals within PGIM, a global asset manager with operations serving institutional and individual investors in multiple regions.