Short Interest in PGIM High Yield Bond Fund, Inc. (NYSE:ISD) Declines By 36.2%

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 91,700 shares, a decrease of 36.2% from the December 15th total of 143,800 shares. Based on an average trading volume of 117,300 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. FSA Wealth Management LLC purchased a new position in shares of PGIM High Yield Bond Fund in the third quarter valued at about $68,000. IHT Wealth Management LLC raised its stake in PGIM High Yield Bond Fund by 67.8% during the 3rd quarter. IHT Wealth Management LLC now owns 17,916 shares of the company’s stock valued at $250,000 after purchasing an additional 7,240 shares during the period. Sanctuary Advisors LLC purchased a new position in PGIM High Yield Bond Fund in the 2nd quarter worth approximately $258,000. Jane Street Group LLC bought a new position in PGIM High Yield Bond Fund in the 3rd quarter worth approximately $322,000. Finally, Activest Wealth Management grew its holdings in PGIM High Yield Bond Fund by 167.6% during the 3rd quarter. Activest Wealth Management now owns 46,803 shares of the company’s stock valued at $652,000 after buying an additional 29,314 shares in the last quarter.

PGIM High Yield Bond Fund Price Performance

NYSE ISD traded up $0.09 on Friday, reaching $13.80. 559,936 shares of the stock were exchanged, compared to its average volume of 170,140. PGIM High Yield Bond Fund has a one year low of $12.20 and a one year high of $14.43. The company’s 50-day simple moving average is $13.85 and its two-hundred day simple moving average is $13.74.

PGIM High Yield Bond Fund Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.105 per share. The ex-dividend date was Thursday, December 12th. This represents a dividend yield of 8.87%.

About PGIM High Yield Bond Fund

PGIM High Yield Bond Fund, Inc is a close ended fixed income mutual fund launched and managed by Prudential Investments LLC. The fund is co-managed by Prudential Investment Management, Inc It invests in the fixed income markets of the United States. The fund primarily invests in a diversified portfolio of high yield fixed income instruments that are rated below investment grade (Ba1 or lower by Moody’s Investors Service, Inc or BB+ or lower by Standard & Poor’s Ratings Services).