PGIM Global High Yield Fund, Inc (NYSE:GHY) Sees Significant Increase in Short Interest

PGIM Global High Yield Fund, Inc (NYSE:GHY) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 32,902 shares, a growth of 80.5% from the July 15th total of 18,227 shares. Based on an average trading volume of 130,149 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On PGIM Global High Yield Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC lifted its holdings in shares of PGIM Global High Yield Fund by 137.2% during the fourth quarter. Wolverine Asset Management LLC now owns 129,950 shares of the company’s stock valued at $1,604,000 after purchasing an additional 75,168 shares during the last quarter. Shaker Financial Services LLC grew its stake in shares of PGIM Global High Yield Fund by 646.9% in the 4th quarter. Shaker Financial Services LLC now owns 221,488 shares of the company’s stock worth $2,754,000 after buying an additional 191,834 shares during the last quarter. Jane Street Group LLC increased its position in PGIM Global High Yield Fund by 28.6% during the 2nd quarter. Jane Street Group LLC now owns 13,878 shares of the company’s stock valued at $186,000 after buying an additional 3,090 shares in the last quarter. Bank of America Corp DE bought a new position in PGIM Global High Yield Fund during the 2nd quarter valued at approximately $730,000. Finally, Landscape Capital Management L.L.C. increased its position in PGIM Global High Yield Fund by 95.2% during the 2nd quarter. Landscape Capital Management L.L.C. now owns 84,811 shares of the company’s stock valued at $1,026,000 after buying an additional 41,372 shares in the last quarter.

PGIM Global High Yield Fund Trading Down 0.1%

Shares of GHY traded down $0.01 on Tuesday, reaching $11.68. The stock had a trading volume of 67,910 shares, compared to its average volume of 147,807. The company has a 50-day simple moving average of $11.83 and a 200-day simple moving average of $12.03. PGIM Global High Yield Fund has a 12-month low of $11.25 and a 12-month high of $13.43.

PGIM Global High Yield Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Thursday, August 13th will be paid a $0.105 dividend. This represents a c) annualized dividend and a yield of 10.8%. The ex-dividend date of this dividend is Thursday, August 13th.

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.