PGIM Global High Yield Fund (NYSE:GHY) Stock Crosses Below 50-Day Moving Average – Should You Sell?

PGIM Global High Yield Fund, Inc (NYSE:GHY)’s stock price crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $11.00 and traded as low as $10.86. PGIM Global High Yield Fund shares last traded at $10.9310, with a volume of 102,620 shares changing hands.

PGIM Global High Yield Fund Stock Performance

The firm has a 50 day moving average price of $11.00 and a two-hundred day moving average price of $11.76.

PGIM Global High Yield Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 12th will be paid a $0.1050 dividend. The ex-dividend date is Thursday, November 12th. This represents a $1.26 annualized dividend and a dividend yield of 11.5%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital Investment Advisors LLC grew its stake in PGIM Global High Yield Fund by 4.3% during the 3rd quarter. Capital Investment Advisors LLC now owns 24,915 shares of the company’s stock valued at $275,000 after purchasing an additional 1,032 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of PGIM Global High Yield Fund by 3.1% in the 2nd quarter. NewEdge Advisors LLC now owns 35,045 shares of the company’s stock valued at $424,000 after purchasing an additional 1,051 shares in the last quarter. Csenge Advisory Group raised its position in shares of PGIM Global High Yield Fund by 26.6% in the 3rd quarter. Csenge Advisory Group now owns 13,362 shares of the company’s stock valued at $147,000 after purchasing an additional 2,809 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of PGIM Global High Yield Fund by 5.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 76,770 shares of the company’s stock valued at $894,000 after buying an additional 4,018 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of PGIM Global High Yield Fund by 1.6% during the 1st quarter. Royal Bank of Canada now owns 534,258 shares of the company’s stock valued at $6,224,000 after buying an additional 8,412 shares during the last quarter.

PGIM Global High Yield Fund Company Profile

PGIM Global High Yield Fund, Inc. (NYSE: GHY) is a closed-end investment company that seeks to provide investors with a high level of current income, with capital appreciation as a secondary objective. The fund is managed by PGIM, the global investment management business of Prudential Financial. The fund invests primarily in high-yield, below-investment-grade debt securities, commonly known as “junk bonds.” Its portfolio may include corporate bonds, loans and other fixed-income instruments issued by companies and governments in the United States and other countries.