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

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) was the recipient of a large increase in short interest in February. As of February 15th, there was short interest totalling 102,200 shares, an increase of 104.0% from the January 31st total of 50,100 shares. Based on an average daily trading volume, of 114,300 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates boosted its stake in shares of 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 worth $6,339,000 after purchasing an additional 18,025 shares during the last quarter. International Assets Investment Management LLC boosted its position in PGIM High Yield Bond Fund by 1,294.0% during the third quarter. International Assets Investment Management LLC now owns 241,594 shares of the company’s stock worth $3,368,000 after acquiring an additional 224,263 shares during the last quarter. Activest Wealth Management grew its stake in PGIM High Yield Bond Fund by 167.6% in the 3rd quarter. Activest Wealth Management now owns 46,803 shares of the company’s stock worth $652,000 after acquiring an additional 29,314 shares during the period. Penserra Capital Management LLC purchased a new stake in PGIM High Yield Bond Fund in the 3rd quarter worth approximately $5,007,000. Finally, FSA Wealth Management LLC acquired a new position in PGIM High Yield Bond Fund in the 3rd quarter valued at $68,000.

PGIM High Yield Bond Fund Price Performance

NYSE:ISD traded up $0.15 during trading hours on Friday, reaching $14.38. 94,297 shares of the company traded hands, compared to its average volume of 122,631. The firm’s 50-day moving average is $13.92 and its 200-day moving average is $13.89. PGIM High Yield Bond Fund has a 1-year low of $12.20 and a 1-year high of $14.43.

PGIM High Yield Bond Fund Dividend Announcement

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

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).