PGIM High Yield Bond Fund (NYSE:ISD) Shares Down 2.2% – Time to Sell?

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) shares were down 2.2% on Thursday. The company traded as low as $11.31 and last traded at $11.33. Approximately 251,841 shares traded hands during trading, an increase of 108% from the average daily volume of 120,958 shares. The stock had previously closed at $11.59.

PGIM High Yield Bond Fund Stock Down 2.2%

The business’s fifty day moving average is $11.71 and its 200-day moving average is $12.85.

PGIM High Yield Bond Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 12th will be paid a dividend of $0.1050 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.26 dividend on an annualized basis and a yield of 11.1%.

Hedge Funds Weigh In On PGIM High Yield Bond Fund

Large investors have recently bought and sold shares of the business. SteelPeak Wealth LLC grew its stake in PGIM High Yield Bond Fund by 7.5% during the 1st quarter. SteelPeak Wealth LLC now owns 794,786 shares of the company’s stock valued at $10,459,000 after purchasing an additional 55,132 shares during the last quarter. Bank of America Corp DE acquired a new position in PGIM High Yield Bond Fund in the second quarter valued at approximately $7,325,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of PGIM High Yield Bond Fund by 17.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 209,371 shares of the company’s stock valued at $2,734,000 after purchasing an additional 30,754 shares during the period. Cetera Investment Advisers grew its position in shares of PGIM High Yield Bond Fund by 3.1% during the 1st quarter. Cetera Investment Advisers now owns 171,475 shares of the company’s stock valued at $2,257,000 after acquiring an additional 5,089 shares during the period. Finally, Landscape Capital Management L.L.C. raised its position in PGIM High Yield Bond Fund by 3.6% during the third quarter. Landscape Capital Management L.L.C. now owns 120,748 shares of the company’s stock worth $1,418,000 after acquiring an additional 4,216 shares during the period.

About PGIM High Yield Bond Fund

PGIM High Yield Bond Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol ISD. The fund seeks to provide a high level of current income by investing primarily in high-yield corporate bonds and other fixed-income securities rated below investment grade, commonly known as “junk bonds.” The fund may invest across a range of industries, issuers and maturities, with its portfolio generally focused on the U.S. high-yield bond market. It may also hold floating-rate loans, other debt instruments and securities issued by companies outside the United States, subject to its investment policies.