PGIM High Yield Bond Fund (NYSE:ISD) Stock Passes Below 50-Day Moving Average – Should You Sell?

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) shares crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $13.88 and traded as low as $13.73. PGIM High Yield Bond Fund shares last traded at $13.90, with a volume of 102,735 shares changing hands.

PGIM High Yield Bond Fund Trading Up 0.9 %

The stock has a 50-day moving average price of $13.87 and a two-hundred day moving average price of $13.70.

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 issued a dividend of $0.105 per share. The ex-dividend date of this dividend was Thursday, December 12th. This represents a dividend yield of 8.87%.

Institutional Investors Weigh In On PGIM High Yield Bond Fund

Several institutional investors have recently modified their holdings of ISD. SteelPeak Wealth LLC grew its stake in PGIM High Yield Bond Fund by 33.9% in the 3rd quarter. SteelPeak Wealth LLC now owns 653,090 shares of the company’s stock worth $9,104,000 after acquiring an additional 165,394 shares in the last quarter. Raymond James & Associates raised its position in PGIM High Yield Bond Fund by 4.1% during the 3rd quarter. Raymond James & Associates now owns 454,752 shares of the company’s stock valued at $6,339,000 after purchasing an additional 18,025 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of PGIM High Yield Bond Fund in the 3rd quarter worth $5,007,000. International Assets Investment Management LLC grew its position in shares of PGIM High Yield Bond Fund by 1,294.0% during the 3rd quarter. International Assets Investment Management LLC now owns 241,594 shares of the company’s stock worth $3,368,000 after buying an additional 224,263 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of PGIM High Yield Bond Fund by 8.3% during the second quarter. Cetera Investment Advisers now owns 171,893 shares of the company’s stock valued at $2,214,000 after buying an additional 13,116 shares during the period.

PGIM High Yield Bond Fund Company Profile

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).