PGIM Global High Yield Fund (NYSE:GHY) Shares Down 0.9% – Here’s What Happened

PGIM Global High Yield Fund, Inc (NYSE:GHY)’s share price traded down 0.9% during trading on Thursday . The stock traded as low as $12.31 and last traded at $12.34. 119,575 shares changed hands during trading, a decline of 26% from the average session volume of 162,132 shares. The stock had previously closed at $12.45.

PGIM Global High Yield Fund Stock Down 1.1%

The business’s 50 day moving average is $12.68 and its 200-day moving average is $12.70.

PGIM Global High Yield Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Sunday, May 31st. Investors of record on Thursday, May 14th will be issued a $0.105 dividend. This represents a c) annualized dividend and a yield of 10.4%. The ex-dividend date of this dividend is Thursday, May 14th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GHY. CoreCap Advisors LLC raised its holdings 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 purchasing an additional 2,567 shares during the period. Allworth Financial LP bought a new stake in PGIM Global High Yield Fund during the 2nd quarter valued at $107,000. Uncommon Cents Investing LLC bought a new position in shares of PGIM Global High Yield Fund in the third quarter worth $133,000. Global Retirement Partners LLC acquired a new position in shares of PGIM Global High Yield Fund in the 4th quarter worth $137,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of PGIM Global High Yield Fund during the third quarter valued at $169,000.

About PGIM Global High Yield Fund

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.