Wolverine Asset Management LLC Invests $706,000 in PGIM Global High Yield Fund, Inc $GHY

Wolverine Asset Management LLC purchased a new stake in PGIM Global High Yield Fund, Inc (NYSE:GHY) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 54,782 shares of the company’s stock, valued at approximately $706,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GHY. CoreCap Advisors LLC raised its holdings in PGIM Global High Yield Fund by 53.8% during the 3rd quarter. CoreCap Advisors LLC now owns 7,337 shares of the company’s stock worth $95,000 after purchasing an additional 2,567 shares during the last quarter. Allworth Financial LP bought a new position in shares of PGIM Global High Yield Fund in the 2nd quarter valued at about $107,000. Uncommon Cents Investing LLC acquired a new stake in shares of PGIM Global High Yield Fund during the 3rd quarter worth approximately $133,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of PGIM Global High Yield Fund during the 3rd quarter worth approximately $169,000. Finally, Jane Street Group LLC raised its stake in shares of PGIM Global High Yield Fund by 28.6% during the second quarter. Jane Street Group LLC now owns 13,878 shares of the company’s stock worth $186,000 after buying an additional 3,090 shares during the last quarter.

Insider Activity at PGIM Global High Yield Fund

In related news, Director Brian Reid sold 4,706 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $12.56, for a total value of $59,107.36. Following the completion of the sale, the director owned 11,130 shares in the company, valued at approximately $139,792.80. This represents a 29.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

PGIM Global High Yield Fund Stock Up 0.2%

Shares of GHY stock opened at $12.59 on Friday. The firm’s 50 day moving average price is $12.38 and its two-hundred day moving average price is $12.82. PGIM Global High Yield Fund, Inc has a 52-week low of $11.31 and a 52-week high of $13.74.

PGIM Global High Yield Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Thursday, February 12th will be given a $0.105 dividend. This represents a c) annualized dividend and a dividend yield of 10.0%. The ex-dividend date is Thursday, February 12th.

PGIM Global High Yield Fund Company Profile

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.