PGIM Global High Yield Fund, Inc (NYSE:GHY) Short Interest Down 58.5% in July

PGIM Global High Yield Fund, Inc (NYSE:GHY) was the target of a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 18,227 shares, a decline of 58.5% from the June 30th total of 43,951 shares. Based on an average daily volume of 137,583 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its stake in PGIM Global High Yield Fund by 267.2% during the fourth quarter. Royal Bank of Canada now owns 525,846 shares of the company’s stock worth $6,489,000 after acquiring an additional 382,645 shares in the last quarter. Readystate Asset Management LP grew its stake in shares of PGIM Global High Yield Fund by 1,110.3% during the fourth quarter. Readystate Asset Management LP now owns 234,971 shares of the company’s stock valued at $2,900,000 after purchasing an additional 215,557 shares during the last quarter. Shaker Financial Services LLC lifted its stake in shares of PGIM Global High Yield Fund by 646.9% during the fourth quarter. Shaker Financial Services LLC now owns 221,488 shares of the company’s stock valued at $2,754,000 after acquiring an additional 191,834 shares during the period. Invesco Ltd. lifted its position in PGIM Global High Yield Fund by 26.5% during the 4th quarter. Invesco Ltd. now owns 519,176 shares of the company’s stock valued at $6,407,000 after purchasing an additional 108,885 shares during the period. Finally, Landscape Capital Management L.L.C. bought a new position in PGIM Global High Yield Fund in the fourth quarter valued at approximately $1,120,000.

PGIM Global High Yield Fund Stock Up 0.3%

Shares of GHY stock traded up $0.04 during trading hours on Tuesday, reaching $11.72. 138,933 shares of the company’s stock were exchanged, compared to its average volume of 147,287. PGIM Global High Yield Fund has a fifty-two week low of $11.25 and a fifty-two week high of $13.43. The business has a fifty day moving average price of $11.89 and a 200-day moving average price of $12.13.

PGIM Global High Yield Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Thursday, August 13th will be given a dividend of $0.105 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 10.7%.

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.