PGIM High Yield Bond Fund (NYSE:ISD) Shares Pass Below Fifty Day Moving Average – What’s Next?

Shares of PGIM High Yield Bond Fund, Inc. (NYSE:ISD) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $14.50 and traded as low as $14.45. PGIM High Yield Bond Fund shares last traded at $14.4550, with a volume of 66,831 shares traded.

PGIM High Yield Bond Fund Trading Down 0.2%

The firm’s fifty day simple moving average is $14.50 and its 200 day simple moving average is $14.44.

PGIM High Yield Bond Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Thursday, February 12th will be given a dividend of $0.105 per share. This represents a c) annualized dividend and a dividend yield of 8.7%. The ex-dividend date of this dividend is Thursday, February 12th.

Insiders Place Their Bets

In related news, Director Brian Reid sold 16,833 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $14.41, for a total value of $242,563.53. Following the completion of the transaction, the director directly owned 3,064 shares of the company’s stock, valued at $44,152.24. This represents a 84.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ISD. Strategic Advocates LLC purchased a new stake in PGIM High Yield Bond Fund in the third quarter valued at approximately $31,000. David J Yvars Group acquired a new position in shares of PGIM High Yield Bond Fund in the 3rd quarter valued at $157,000. Intellus Advisors LLC raised its position in PGIM High Yield Bond Fund by 6.7% in the 2nd quarter. Intellus Advisors LLC now owns 11,642 shares of the company’s stock valued at $165,000 after purchasing an additional 734 shares during the last quarter. Beacon Pointe Advisors LLC boosted its stake in PGIM High Yield Bond Fund by 25.6% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 14,772 shares of the company’s stock worth $209,000 after purchasing an additional 3,010 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new position in PGIM High Yield Bond Fund during the 1st quarter worth $217,000.

About PGIM High Yield Bond Fund

PGIM High Yield Bond Fund (NYSE:ISD) is an exchange?traded fund designed to provide investors with broad exposure to the high yield corporate debt market. Launched and managed by PGIM Investments, the fund seeks to generate current income by investing predominantly in U.S. dollar?denominated below?investment?grade corporate bonds. Through its open?end structure, ISD offers daily liquidity, allowing investors to gain access to a diversified portfolio of high yield debt instruments across a range of industries.

The fund’s investment approach emphasizes rigorous, bottom?up credit research conducted by PGIM’s global fixed income team.