PGIM Global High Yield Fund, Inc (NYSE:GHY) Sees Large Increase in Short Interest

PGIM Global High Yield Fund, Inc (NYSE:GHY) saw a significant increase in short interest in June. As of June 15th, there was short interest totalling 91,900 shares, an increase of 164.1% from the May 31st total of 34,800 shares. Based on an average daily volume of 131,800 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Trading of PGIM Global High Yield Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in GHY. Lazard Asset Management LLC grew its stake in PGIM Global High Yield Fund by 31.7% during the 3rd quarter. Lazard Asset Management LLC now owns 91,297 shares of the company’s stock worth $984,000 after buying an additional 22,000 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of PGIM Global High Yield Fund by 18.5% during the third quarter. Advisors Asset Management Inc. now owns 546,693 shares of the company’s stock worth $5,893,000 after acquiring an additional 85,252 shares during the last quarter. Penserra Capital Management LLC increased its holdings in shares of PGIM Global High Yield Fund by 4.7% in the 3rd quarter. Penserra Capital Management LLC now owns 997,825 shares of the company’s stock valued at $10,756,000 after acquiring an additional 44,744 shares during the period. OLD National Bancorp IN purchased a new stake in PGIM Global High Yield Fund in the 3rd quarter valued at $159,000. Finally, Advisor Resource Council purchased a new stake in PGIM Global High Yield Fund in the 4th quarter valued at $976,000.

PGIM Global High Yield Fund Trading Up 0.8 %

Shares of NYSE GHY traded up $0.09 during mid-day trading on Thursday, reaching $11.96. The company had a trading volume of 134,115 shares, compared to its average volume of 157,004. The firm has a 50 day simple moving average of $11.75 and a two-hundred day simple moving average of $11.62. PGIM Global High Yield Fund has a 52-week low of $10.24 and a 52-week high of $12.16.

PGIM Global High Yield Fund Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.105 per share. This represents a dividend yield of 10.55%. The ex-dividend date of this dividend is Thursday, June 13th.

PGIM Global High Yield Fund Company Profile

PGIM Global Short Duration High Yield Fund, Inc is a closed ended fixed income mutual fund launched and managed by PGIM Investments LLC. The fund is co-managed by PGIM Fixed Income. It invests in fixed income markets across the globe. The fund primarily invests in high yield fixed income instruments of varying maturities that are rated Ba1 or lower by Moody's Investors Service, Inc or BB+ or lower by Standard & Poor's Ratings Services.