PGIM High Yield Bond Fund, Inc. (NYSE:ISD) Sees Significant Drop in Short Interest

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) was the recipient of a significant decline in short interest in April. As of April 30th, there was short interest totaling 29,373 shares, a decline of 49.6% from the April 15th total of 58,248 shares. Based on an average trading volume of 87,418 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On PGIM High Yield Bond Fund

A number of large investors have recently added to or reduced their stakes in the company. Intellus Advisors LLC raised its holdings in PGIM High Yield Bond Fund by 9.6% in the fourth quarter. Intellus Advisors LLC now owns 17,494 shares of the company’s stock worth $253,000 after purchasing an additional 1,527 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of PGIM High Yield Bond Fund by 3.9% during the third quarter. Envestnet Asset Management Inc. now owns 42,010 shares of the company’s stock worth $604,000 after purchasing an additional 1,567 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of PGIM High Yield Bond Fund by 1.1% during the first quarter. Private Advisor Group LLC now owns 150,223 shares of the company’s stock valued at $1,977,000 after acquiring an additional 1,596 shares in the last quarter. Mallini Complete Financial Planning LLC raised its stake in PGIM High Yield Bond Fund by 8.5% in the 4th quarter. Mallini Complete Financial Planning LLC now owns 21,857 shares of the company’s stock worth $316,000 after acquiring an additional 1,706 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new position in PGIM High Yield Bond Fund in the 1st quarter worth $26,000.

PGIM High Yield Bond Fund Stock Performance

NYSE:ISD traded down $0.21 during trading hours on Friday, reaching $12.99. The company’s stock had a trading volume of 107,330 shares, compared to its average volume of 88,081. PGIM High Yield Bond Fund has a 12 month low of $12.53 and a 12 month high of $14.79. The stock has a 50 day moving average price of $13.32 and a two-hundred day moving average price of $14.11.

PGIM High Yield Bond Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Sunday, May 31st. Stockholders of record on Thursday, May 14th will be issued a $0.105 dividend. The ex-dividend date is Thursday, May 14th. This represents a c) dividend on an annualized basis and a dividend yield of 9.7%.

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.