Short Interest in PGIM High Yield Bond Fund, Inc. (NYSE:ISD) Decreases By 45.0%

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) was the recipient of a large decline in short interest in the month of June. As of June 15th, there was short interest totaling 11,478 shares, a decline of 45.0% from the May 31st total of 20,886 shares. Based on an average daily trading volume, of 123,501 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On PGIM High Yield Bond Fund

Several hedge funds have recently bought and sold shares of ISD. Northwestern Mutual Wealth Management Co. grew its holdings in shares of PGIM High Yield Bond Fund by 84.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 210,526 shares of the company’s stock valued at $3,046,000 after purchasing an additional 96,461 shares in the last quarter. Savvy Advisors Inc. purchased a new position in PGIM High Yield Bond Fund in the 4th quarter valued at approximately $1,378,000. Allworth Financial LP acquired a new position in shares of PGIM High Yield Bond Fund in the fourth quarter worth $68,000. Intellus Advisors LLC increased its position in shares of PGIM High Yield Bond Fund by 9.6% during the fourth quarter. Intellus Advisors LLC now owns 17,494 shares of the company’s stock worth $253,000 after acquiring an additional 1,527 shares during the period. Finally, Cetera Investment Advisers raised its stake in shares of PGIM High Yield Bond Fund by 3.1% in the first 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 in the last quarter.

PGIM High Yield Bond Fund Price Performance

ISD stock traded down $0.01 during midday trading on Thursday, hitting $12.96. 102,157 shares of the company’s stock were exchanged, compared to its average volume of 94,474. The business has a 50-day simple moving average of $13.03 and a two-hundred day simple moving average of $13.72. PGIM High Yield Bond Fund has a 1-year low of $12.53 and a 1-year high of $14.79.

PGIM High Yield Bond Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.105 per share. This represents a c) dividend on an annualized basis and a yield of 9.7%. The ex-dividend date is Thursday, August 13th.

PGIM High Yield Bond Fund Company Profile

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.