Short Interest in PGIM Global High Yield Fund, Inc (NYSE:GHY) Drops By 48.9%

PGIM Global High Yield Fund, Inc (NYSE:GHY) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totaling 29,192 shares, a decrease of 48.9% from the August 15th total of 57,109 shares. Based on an average trading volume of 125,092 shares, the days-to-cover ratio is currently 0.2 days.

PGIM Global High Yield Fund Trading Down 1.1%

PGIM Global High Yield Fund stock traded down $0.12 during midday trading on Tuesday, reaching $11.15. The stock had a trading volume of 516,949 shares, compared to its average volume of 150,821. PGIM Global High Yield Fund has a twelve month low of $11.08 and a twelve month high of $13.33. The firm’s fifty day simple moving average is $11.68 and its two-hundred day simple moving average is $11.84.

PGIM Global High Yield Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 12th will be paid a $0.105 dividend. This represents a c) annualized dividend and a yield of 11.3%. The ex-dividend date of this dividend is Thursday, November 12th.

Institutional Investors Weigh In On PGIM Global High Yield Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GHY. Csenge Advisory Group acquired a new stake in shares of PGIM Global High Yield Fund during the 2nd quarter valued at $128,000. Global Retirement Partners LLC acquired a new stake in PGIM Global High Yield Fund during the fourth quarter valued at $137,000. Personal CFO Solutions LLC purchased a new position in PGIM Global High Yield Fund in the first quarter valued at about $136,000. Susquehanna International Group LLP acquired a new position in PGIM Global High Yield Fund in the 2nd quarter worth about $203,000. Finally, IMC Chicago LLC acquired a new position in PGIM Global High Yield Fund in the 2nd quarter worth about $246,000.

PGIM Global High Yield Fund Company Profile

PGIM Global High Yield Fund (NYSE: GHY) is a closed-end management investment company that seeks to provide current income and capital appreciation by investing primarily in high-yield corporate debt securities. Managed by PGIM, the global investment management business of Prudential Financial, Inc, the fund offers investors access to a diversified portfolio of bonds issued by companies around the world. Its objective is to capitalize on credit spread opportunities in both developed and emerging markets.

The fund’s investment strategy centers on fundamental credit research and bottom-up security selection.