PGIM Global High Yield Fund (NYSE:GHY) Shares Up 1.1% – What’s Next?

PGIM Global High Yield Fund, Inc (NYSE:GHY) shares rose 1.1% on Wednesday. The company traded as high as $11.01 and last traded at $11.0020. 234,306 shares traded hands during mid-day trading, an increase of 48% from the average session volume of 158,447 shares. The stock had previously closed at $10.88.

PGIM Global High Yield Fund Stock Performance

The firm has a 50-day moving average price of $11.05 and a 200-day moving average price of $11.80.

PGIM Global High Yield Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 12th will be paid a dividend of $0.1050 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.26 annualized dividend and a yield of 11.5%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GHY. StoneX Group Inc. bought a new stake in shares of PGIM Global High Yield Fund in the 3rd quarter worth approximately $131,000. Calamos Advisors LLC boosted its holdings in PGIM Global High Yield Fund by 114.7% during the third quarter. Calamos Advisors LLC now owns 59,612 shares of the company’s stock worth $657,000 after buying an additional 31,847 shares in the last quarter. Capital Investment Advisors LLC grew its position in PGIM Global High Yield Fund by 4.3% in the third quarter. Capital Investment Advisors LLC now owns 24,915 shares of the company’s stock worth $275,000 after buying an additional 1,032 shares during the last quarter. Sage Capital Advisors llc acquired a new position in PGIM Global High Yield Fund in the third quarter worth approximately $176,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of PGIM Global High Yield Fund by 177.9% in the second quarter. Envestnet Asset Management Inc. now owns 453,420 shares of the company’s stock valued at $5,486,000 after buying an additional 290,279 shares in the last quarter.

PGIM Global High Yield Fund Company Profile

PGIM Global High Yield Fund, Inc (NYSE: GHY) is a closed-end investment company that seeks to provide investors with a high level of current income, with capital appreciation as a secondary objective. The fund is managed by PGIM, the global investment management business of Prudential Financial.

The fund invests primarily in high-yield, below-investment-grade debt securities, commonly known as “junk bonds.” Its portfolio may include corporate bonds, loans and other fixed-income instruments issued by companies and governments in the United States and other countries.