PGIM High Yield Bond Fund, Inc. (NYSE:ISD) Shares Shorted: Short Interest Up 303.8% in September

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

PGIM High Yield Bond Fund Price Performance

Shares of ISD stock traded up $0.06 during trading hours on Friday, hitting $11.62. 112,373 shares of the company’s stock traded hands, compared to its average volume of 112,481. PGIM High Yield Bond Fund has a 12 month low of $11.46 and a 12 month high of $14.79. The stock’s 50 day simple moving average is $12.33 and its 200 day simple moving average is $12.82.

PGIM High Yield Bond Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Thursday, November 12th will be given a dividend of $0.1050 per share. This represents a $1.26 dividend on an annualized basis and a yield of 10.8%. The ex-dividend date of this dividend is Thursday, November 12th.

Institutional Investors Weigh In On PGIM High Yield Bond Fund

Large investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC acquired a new position in PGIM High Yield Bond Fund during the 2nd quarter worth approximately $52,000. NewEdge Advisors LLC grew its stake in PGIM High Yield Bond Fund by 52.7% in the 2nd quarter. NewEdge Advisors LLC now owns 69,122 shares of the company’s stock valued at $903,000 after purchasing an additional 23,867 shares during the period. Readystate Asset Management LP increased its stake in shares of PGIM High Yield Bond Fund by 350.6% during the 2nd quarter. Readystate Asset Management LP now owns 77,863 shares of the company’s stock worth $1,017,000 after purchasing an additional 60,583 shares during the last quarter. Susquehanna International Group LLP bought a new stake in PGIM High Yield Bond Fund in the 2nd quarter valued at about $155,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of PGIM High Yield Bond Fund by 17.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 209,371 shares of the company’s stock valued at $2,734,000 after buying an additional 30,754 shares in the last quarter.

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.