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

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) saw a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 21,183 shares, an increase of 268.7% from the July 30th total of 5,745 shares. Based on an average daily volume of 139,680 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ISD. Readystate Asset Management LP increased its position in shares of PGIM High Yield Bond Fund by 350.6% in the 2nd quarter. Readystate Asset Management LP now owns 77,863 shares of the company’s stock valued at $1,017,000 after purchasing an additional 60,583 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in shares of PGIM High Yield Bond Fund during the 2nd quarter worth $155,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of PGIM High Yield Bond Fund by 17.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 209,371 shares of the company’s stock worth $2,734,000 after purchasing an additional 30,754 shares during the last quarter. Beacon Pointe Advisors LLC acquired a new position in shares of PGIM High Yield Bond Fund during the second quarter worth $367,000. Finally, Corient Private Wealth LP acquired a new position in shares of PGIM High Yield Bond Fund during the second quarter worth $317,000.

PGIM High Yield Bond Fund Trading Down 0.1%

Shares of ISD opened at $12.38 on Thursday. PGIM High Yield Bond Fund has a 1 year low of $12.21 and a 1 year high of $14.79. The stock has a 50-day simple moving average of $12.64 and a 200-day simple moving average of $13.18.

PGIM High Yield Bond Fund Announces Dividend

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 issued a $0.105 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) annualized dividend and a yield of 10.2%.

PGIM High Yield Bond Fund Company Profile

PGIM High Yield Bond Fund (NYSE:ISD) is an exchange‐traded fund designed to provide investors with broad exposure to the high yield corporate debt market. Launched and managed by PGIM Investments, the fund seeks to generate current income by investing predominantly in U.S. dollar‐denominated below‐investment‐grade corporate bonds. Through its open‐end structure, ISD offers daily liquidity, allowing investors to gain access to a diversified portfolio of high yield debt instruments across a range of industries.

The fund’s investment approach emphasizes rigorous, bottom‐up credit research conducted by PGIM’s global fixed income team.