PGIM High Yield Bond Fund, Inc. (NYSE:ISD) Short Interest Up 21.7% in March

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 236,800 shares, a growth of 21.7% from the March 15th total of 194,600 shares. Based on an average daily trading volume, of 129,200 shares, the days-to-cover ratio is presently 1.8 days.

Hedge Funds Weigh In On PGIM High Yield Bond Fund

A number of hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of PGIM High Yield Bond Fund in the fourth quarter valued at about $8,765,000. Guggenheim Capital LLC lifted its stake in PGIM High Yield Bond Fund by 21.9% in the 4th quarter. Guggenheim Capital LLC now owns 602,651 shares of the company’s stock worth $8,244,000 after purchasing an additional 108,472 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of PGIM High Yield Bond Fund during the 1st quarter worth approximately $896,000. Commonwealth Equity Services LLC grew its position in shares of PGIM High Yield Bond Fund by 8.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 630,031 shares of the company’s stock valued at $8,619,000 after purchasing an additional 48,558 shares in the last quarter. Finally, Stifel Financial Corp acquired a new stake in shares of PGIM High Yield Bond Fund in the third quarter valued at approximately $675,000.

PGIM High Yield Bond Fund Stock Performance

NYSE:ISD traded down $0.15 during trading hours on Monday, reaching $12.82. 86,433 shares of the company were exchanged, compared to its average volume of 123,563. PGIM High Yield Bond Fund has a twelve month low of $11.82 and a twelve month high of $14.49. The stock’s 50-day moving average is $13.83 and its 200-day moving average is $13.86.

PGIM High Yield Bond Fund Announces Dividend

The business also recently declared a dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.105 dividend. This represents a yield of 9.08%. The ex-dividend date was Thursday, March 13th.

About PGIM High Yield Bond Fund

PGIM High Yield Bond Fund, Inc is a close ended fixed income mutual fund launched and managed by Prudential Investments LLC. The fund is co-managed by Prudential Investment Management, Inc It invests in the fixed income markets of the United States. The fund primarily invests in a diversified portfolio of high yield fixed income instruments that are rated below investment grade (Ba1 or lower by Moody’s Investors Service, Inc or BB+ or lower by Standard & Poor’s Ratings Services).