PGIM High Yield Bond Fund, Inc. (NYSE:ISD) Sees Large Growth in Short Interest

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 79,406 shares, a growth of 303.8% from the August 31st total of 19,664 shares. Based on an average daily trading volume, of 201,057 shares, the short-interest ratio is presently 0.4 days.

PGIM High Yield Bond Fund Stock Performance

PGIM High Yield Bond Fund stock traded up $0.10 during trading hours on Friday, hitting $11.66. 179,355 shares of the stock traded hands, compared to its average volume of 112,890. PGIM High Yield Bond Fund has a one year low of $11.46 and a one year high of $14.79. The firm’s 50-day moving average price is $12.31 and its two-hundred day moving average price is $12.81.

PGIM High Yield Bond Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Thursday, November 12th will be paid a $0.1050 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date is Thursday, November 12th.

Institutional Investors Weigh In On PGIM High Yield Bond Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ISD. Mallini Complete Financial Planning LLC raised its holdings in PGIM High Yield Bond Fund by 4.2% in the second quarter. Mallini Complete Financial Planning LLC now owns 23,330 shares of the company’s stock worth $305,000 after purchasing an additional 938 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of PGIM High Yield Bond Fund by 1.1% during the 1st quarter. Private Advisor Group LLC now owns 150,223 shares of the company’s stock valued at $1,977,000 after buying an additional 1,596 shares in the last quarter. Fifth Third Bancorp purchased a new stake in shares of PGIM High Yield Bond Fund in the 1st quarter worth about $26,000. Integrated Wealth Concepts LLC purchased a new stake in shares of PGIM High Yield Bond Fund in the 2nd quarter worth about $52,000. Finally, Cetera Investment Advisers increased its stake in shares of PGIM High Yield Bond Fund by 3.1% in the 1st quarter. Cetera Investment Advisers now owns 171,475 shares of the company’s stock worth $2,257,000 after acquiring an additional 5,089 shares in the last quarter.

About PGIM High Yield Bond Fund

PGIM High Yield Bond Fund, Inc (NYSE: ISD) is a closed-end investment fund managed by PGIM Investments, the asset-management business of Prudential Financial. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective, by investing primarily in high-yield corporate debt securities.

The fund generally invests in below-investment-grade bonds, commonly known as high-yield or “junk” bonds, issued by companies in a range of industries. Its portfolio may also include other fixed-income securities and obligations, with investment decisions focused on credit research, income generation and risk management.

PGIM High Yield Bond Fund is advised by investment professionals within PGIM, a global asset manager with operations serving institutional and individual investors in multiple regions.