Short Interest in PGIM High Yield Bond Fund, Inc. (NYSE:ISD) Rises By 47.0%

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 150,200 shares, an increase of 47.0% from the February 13th total of 102,200 shares. Based on an average daily trading volume, of 113,300 shares, the short-interest ratio is presently 1.3 days.

Hedge Funds Weigh In On PGIM High Yield Bond Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SteelPeak Wealth LLC raised its stake in PGIM High Yield Bond Fund by 7.0% during the 4th quarter. SteelPeak Wealth LLC now owns 698,968 shares of the company’s stock valued at $9,635,000 after purchasing an additional 45,878 shares during the period. Raymond James Financial Inc. purchased a new position in shares of PGIM High Yield Bond Fund during the fourth quarter valued at $8,765,000. Commonwealth Equity Services LLC raised its position in PGIM High Yield Bond Fund by 8.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 630,031 shares of the company’s stock valued at $8,619,000 after buying an additional 48,558 shares during the period. Guggenheim Capital LLC lifted its stake in PGIM High Yield Bond Fund by 21.9% in the 4th quarter. Guggenheim Capital LLC now owns 602,651 shares of the company’s stock worth $8,244,000 after acquiring an additional 108,472 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in PGIM High Yield Bond Fund by 11.9% in the 4th quarter. Bank of America Corp DE now owns 441,238 shares of the company’s stock worth $6,036,000 after acquiring an additional 47,009 shares in the last quarter.

PGIM High Yield Bond Fund Price Performance

ISD stock traded up $0.03 during mid-day trading on Friday, reaching $13.91. 93,051 shares of the stock traded hands, compared to its average volume of 120,605. PGIM High Yield Bond Fund has a 52-week low of $12.20 and a 52-week high of $14.49. The stock’s fifty day moving average is $13.99 and its 200-day moving average is $13.93.

PGIM High Yield Bond Fund Dividend Announcement

The company also recently declared a dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.105 dividend. The ex-dividend date is Thursday, March 13th. This represents a dividend yield of 9.08%.

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).