PGIM High Yield Bond Fund, Inc. (NYSE:ISD) Shares Shorted: Short Interest Down 51.5% in September

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totaling 38,542 shares, a decrease of 51.5% from the September 15th total of 79,406 shares. Based on an average daily trading volume, of 190,050 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On PGIM High Yield Bond Fund

A number of institutional investors have recently added to or reduced their stakes in ISD. SteelPeak Wealth LLC grew its holdings in shares of PGIM High Yield Bond Fund by 7.5% in the first quarter. SteelPeak Wealth LLC now owns 794,786 shares of the company’s stock valued at $10,459,000 after acquiring an additional 55,132 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of PGIM High Yield Bond Fund during the 2nd quarter valued at $7,325,000. Northwestern Mutual Wealth Management Co. increased its position 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 purchasing an additional 30,754 shares during the last quarter. Cetera Investment Advisers raised its stake 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 worth $2,257,000 after purchasing an additional 5,089 shares during the period. Finally, Private Advisor Group LLC raised its stake in shares of PGIM High Yield Bond Fund by 1.1% during the 1st quarter. Private Advisor Group LLC now owns 150,223 shares of the company’s stock worth $1,977,000 after purchasing an additional 1,596 shares during the period.

PGIM High Yield Bond Fund Price Performance

ISD traded down $0.16 during mid-day trading on Wednesday, reaching $11.50. 201,650 shares of the stock were exchanged, compared to its average volume of 117,025. The company has a 50 day moving average price of $12.09 and a two-hundred day moving average price of $12.66. PGIM High Yield Bond Fund has a 1 year low of $11.46 and a 1 year high of $14.79.

PGIM High Yield Bond Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 12th will be issued a dividend of $0.1050 per share. The ex-dividend date is Thursday, November 12th. This represents a $1.26 annualized dividend and a yield of 11.0%.

PGIM High Yield Bond Fund Company Profile

PGIM High Yield Bond Fund, Inc (NYSE: ISD) is a closed-end investment fund that seeks to provide a high level of current income, with capital appreciation as a secondary objective. The fund is managed by PGIM Investments, part of Prudential Financial’s global investment management business.

The fund invests primarily in high-yield corporate bonds, commonly known as below-investment-grade or “junk” bonds. Its portfolio may include debt securities issued by companies across a range of industries and may also include securities issued by non-U.S.