PGIM Global High Yield Fund, Inc (NYSE:GHY) Short Interest Down 55.0% in April

PGIM Global High Yield Fund, Inc (NYSE:GHY) saw a significant drop in short interest during the month of April. As of April 30th, there was short interest totaling 23,347 shares, a drop of 55.0% from the April 15th total of 51,842 shares. Based on an average trading volume of 142,455 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of PGIM Global High Yield Fund

A number of institutional investors and hedge funds have recently modified their holdings of GHY. Wolverine Asset Management LLC bought a new position in PGIM Global High Yield Fund during the third quarter valued at $706,000. Shaker Financial Services LLC grew its holdings in PGIM Global High Yield Fund by 646.9% during the fourth quarter. Shaker Financial Services LLC now owns 221,488 shares of the company’s stock valued at $2,754,000 after purchasing an additional 191,834 shares during the period. Bank of America Corp DE grew its holdings in PGIM Global High Yield Fund by 12.5% during the third quarter. Bank of America Corp DE now owns 120,050 shares of the company’s stock valued at $1,546,000 after purchasing an additional 13,354 shares during the period. Balyasny Asset Management L.P. grew its holdings in PGIM Global High Yield Fund by 181.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 118,277 shares of the company’s stock valued at $1,460,000 after purchasing an additional 76,281 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its holdings in PGIM Global High Yield Fund by 2.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 82,344 shares of the company’s stock valued at $1,016,000 after purchasing an additional 1,664 shares during the period.

PGIM Global High Yield Fund Stock Performance

Shares of GHY traded down $0.11 on Friday, reaching $11.95. 130,682 shares of the company’s stock traded hands, compared to its average volume of 159,200. The stock’s 50 day simple moving average is $11.86 and its two-hundred day simple moving average is $12.31. PGIM Global High Yield Fund has a 52-week low of $11.25 and a 52-week high of $13.74.

PGIM Global High Yield Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Sunday, May 31st. Investors of record on Thursday, May 14th will be given a dividend of $0.105 per share. This represents a c) dividend on an annualized basis and a dividend yield of 10.5%. The ex-dividend date of this dividend is Thursday, May 14th.

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.