PGIM Global High Yield Fund (NYSE:GHY) Stock Price Down 0.3% – Time to Sell?

PGIM Global High Yield Fund, Inc (NYSE:GHY) shares dropped 0.3% on Monday . The stock traded as low as $12.85 and last traded at $12.86. Approximately 131,637 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 183,432 shares. The stock had previously closed at $12.90.

PGIM Global High Yield Fund Stock Down 0.3%

The company’s fifty day moving average is $12.53 and its 200 day moving average is $12.76.

PGIM Global High Yield Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Thursday, February 12th will be paid a $0.105 dividend. The ex-dividend date is Thursday, February 12th. This represents a c) annualized dividend and a yield of 9.8%.

Institutional Investors Weigh In On PGIM Global High Yield Fund

Several hedge funds and other institutional investors have recently modified their holdings of GHY. Stolper Co raised its holdings in shares of PGIM Global High Yield Fund by 2.8% during the 4th quarter. Stolper Co now owns 42,898 shares of the company’s stock valued at $529,000 after buying an additional 1,174 shares in the last quarter. Atria Wealth Solutions Inc. boosted its stake in PGIM Global High Yield Fund by 5.1% in the second quarter. Atria Wealth Solutions Inc. now owns 34,426 shares of the company’s stock worth $463,000 after buying an additional 1,664 shares in the last quarter. Uncommon Cents Investing LLC grew its position in PGIM Global High Yield Fund by 22.5% during the fourth quarter. Uncommon Cents Investing LLC now owns 12,665 shares of the company’s stock valued at $156,000 after acquiring an additional 2,325 shares during the last quarter. CoreCap Advisors LLC raised its stake in shares of PGIM Global High Yield Fund by 53.8% during the third quarter. CoreCap Advisors LLC now owns 7,337 shares of the company’s stock worth $95,000 after acquiring an additional 2,567 shares in the last quarter. Finally, Merit Financial Group LLC raised its stake in shares of PGIM Global High Yield Fund by 14.7% during the fourth quarter. Merit Financial Group LLC now owns 21,214 shares of the company’s stock worth $262,000 after acquiring an additional 2,712 shares in the last quarter.

PGIM Global High Yield Fund Company Profile

PGIM Global High Yield Fund (NYSE: GHY) is a closed-end management investment company that seeks to provide current income and capital appreciation by investing primarily in high-yield corporate debt securities. Managed by PGIM, the global investment management business of Prudential Financial, Inc, the fund offers investors access to a diversified portfolio of bonds issued by companies around the world. Its objective is to capitalize on credit spread opportunities in both developed and emerging markets.

The fund’s investment strategy centers on fundamental credit research and bottom-up security selection.