PGIM High Yield Bond Fund Inc (NYSE:ISD) Short Interest Down 21.2% in September

PGIM High Yield Bond Fund Inc (NYSE:ISD) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 22,300 shares, a drop of 21.2% from the September 15th total of 28,300 shares. Based on an average trading volume of 97,700 shares, the short-interest ratio is currently 0.2 days.

Shares of ISD stock traded down $0.08 during mid-day trading on Friday, hitting $13.81. The stock had a trading volume of 102,866 shares, compared to its average volume of 166,888. PGIM High Yield Bond Fund has a fifty-two week low of $8.99 and a fifty-two week high of $15.80. The company’s 50-day simple moving average is $14.00 and its 200-day simple moving average is $13.29.

The company also recently announced a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 13th will be paid a $0.105 dividend. This represents a $1.26 annualized dividend and a dividend yield of 9.12%. The ex-dividend date of this dividend is Thursday, November 12th.

Hedge funds have recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. purchased a new position in PGIM High Yield Bond Fund during the 3rd quarter valued at about $720,000. Cornerstone Wealth Management LLC lifted its position in shares of PGIM High Yield Bond Fund by 16.4% during the third quarter. Cornerstone Wealth Management LLC now owns 26,072 shares of the company’s stock worth $360,000 after purchasing an additional 3,672 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of PGIM High Yield Bond Fund by 65.0% during the third quarter. Envestnet Asset Management Inc. now owns 30,754 shares of the company’s stock worth $425,000 after purchasing an additional 12,115 shares in the last quarter. Stolper Co lifted its position in shares of PGIM High Yield Bond Fund by 5.3% during the third quarter. Stolper Co now owns 27,712 shares of the company’s stock worth $383,000 after purchasing an additional 1,402 shares in the last quarter. Finally, Private Advisor Group LLC lifted its position in shares of PGIM High Yield Bond Fund by 21.8% during the second quarter. Private Advisor Group LLC now owns 89,463 shares of the company’s stock worth $1,184,000 after purchasing an additional 15,994 shares in the last quarter.

About PGIM High Yield Bond Fund

Prudential Short Duration High Yield 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).

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