PGIM Global High Yield Fund (NYSE:GHY) Trading 3.3% Higher – What’s Next?

PGIM Global High Yield Fund, Inc (NYSE:GHY) shot up 3.3% on Tuesday . The company traded as high as $11.67 and last traded at $11.64. 310,957 shares changed hands during trading, an increase of 94% from the average session volume of 160,053 shares. The stock had previously closed at $11.27.

PGIM Global High Yield Fund Stock Down 0.8%

The stock has a fifty day moving average price of $12.40 and a 200-day moving average price of $12.50.

PGIM Global High Yield Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Sunday, May 31st. Stockholders of record on Thursday, May 14th will be paid a $0.105 dividend. This represents a c) annualized dividend and a dividend yield of 10.9%. The ex-dividend date is Thursday, May 14th.

Institutional Investors Weigh In On PGIM Global High Yield Fund

Hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its holdings in PGIM Global High Yield Fund by 9.2% during the 4th quarter. Advisors Asset Management Inc. now owns 605,154 shares of the company’s stock valued at $7,468,000 after purchasing an additional 50,995 shares during the last quarter. Guggenheim Capital LLC grew its stake in PGIM Global High Yield Fund by 3.0% during the fourth quarter. Guggenheim Capital LLC now owns 551,217 shares of the company’s stock worth $6,802,000 after buying an additional 16,282 shares during the last quarter. Ameriprise Financial Inc. grew its stake in PGIM Global High Yield Fund by 6.4% during the third quarter. Ameriprise Financial Inc. now owns 545,332 shares of the company’s stock worth $7,024,000 after buying an additional 32,805 shares during the last quarter. LPL Financial LLC increased its holdings in shares of PGIM Global High Yield Fund by 8.1% during the fourth quarter. LPL Financial LLC now owns 544,366 shares of the company’s stock worth $6,717,000 after buying an additional 40,695 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of PGIM Global High Yield Fund by 267.2% during the fourth quarter. Royal Bank of Canada now owns 525,846 shares of the company’s stock worth $6,489,000 after buying an additional 382,645 shares in the last quarter.

About PGIM Global High Yield Fund

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.