Short Interest in PGIM Global High Yield Fund, Inc (NYSE:GHY) Declines By 48.0%

PGIM Global High Yield Fund, Inc (NYSE:GHY) was the target of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 54,124 shares, a decline of 48.0% from the May 14th total of 104,053 shares. Based on an average daily trading volume, of 96,032 shares, the days-to-cover ratio is currently 0.6 days.

PGIM Global High Yield Fund Stock Performance

Shares of GHY stock traded up $0.03 on Friday, hitting $11.82. The company had a trading volume of 89,690 shares, compared to its average volume of 150,050. The company has a 50-day moving average price of $11.90 and a 200-day moving average price of $12.23. PGIM Global High Yield Fund has a twelve month low of $11.25 and a twelve month high of $13.74.

PGIM Global High Yield Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Thursday, August 13th will be given a $0.105 dividend. This represents a c) annualized dividend and a dividend yield of 10.7%. The ex-dividend date is Thursday, August 13th.

Hedge Funds Weigh In On PGIM Global High Yield Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Shaker Financial Services LLC lifted its position in shares of PGIM Global High Yield Fund by 646.9% in the fourth quarter. Shaker Financial Services LLC now owns 221,488 shares of the company’s stock valued at $2,754,000 after acquiring an additional 191,834 shares in the last quarter. Wolverine Asset Management LLC grew its position in shares of PGIM Global High Yield Fund by 137.2% in the fourth quarter. Wolverine Asset Management LLC now owns 129,950 shares of the company’s stock valued at $1,604,000 after purchasing an additional 75,168 shares in the last quarter. UBS Group AG grew its position in shares of PGIM Global High Yield Fund by 5.6% in the fourth quarter. UBS Group AG now owns 177,345 shares of the company’s stock valued at $2,188,000 after purchasing an additional 9,397 shares in the last quarter. Personal CFO Solutions LLC purchased a new stake in shares of PGIM Global High Yield Fund in the first quarter valued at approximately $136,000. Finally, Janney Montgomery Scott LLC grew its position in shares of PGIM Global High Yield Fund by 5.5% in the first quarter. Janney Montgomery Scott LLC now owns 76,770 shares of the company’s stock valued at $894,000 after purchasing an additional 4,018 shares in the last quarter.

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.