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

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) was the target of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 139,800 shares, an increase of 147.9% from the October 15th total of 56,400 shares. Based on an average daily volume of 128,600 shares, the days-to-cover ratio is currently 1.1 days.

PGIM High Yield Bond Fund Stock Performance

NYSE:ISD traded down $0.01 during mid-day trading on Wednesday, hitting $13.92. 20,581 shares of the company’s stock traded hands, compared to its average volume of 126,218. PGIM High Yield Bond Fund has a 1 year low of $11.58 and a 1 year high of $14.43. The firm’s 50 day simple moving average is $13.94 and its 200 day simple moving average is $13.36.

PGIM High Yield Bond Fund Announces Dividend

The business also recently disclosed a dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $0.105 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a dividend yield of 9.09%.

Institutional Investors Weigh In On PGIM High Yield Bond Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. SteelPeak Wealth LLC raised its holdings in shares of PGIM High Yield Bond Fund by 33.9% in the third 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 during the last quarter. Commonwealth Equity Services LLC lifted its holdings in PGIM High Yield Bond Fund by 3.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 544,628 shares of the company’s stock valued at $7,015,000 after purchasing an additional 17,288 shares in the last quarter. 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. Penserra Capital Management LLC acquired a new stake in shares of PGIM High Yield Bond Fund during the 3rd quarter worth about $5,007,000. Finally, International Assets Investment Management LLC grew its holdings in shares of 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 buying an additional 224,263 shares in the last quarter.

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).