PGIM High Yield Bond Fund (NYSE:ISD) Shares Cross Below 50 Day Moving Average – Here’s What Happened

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) shares crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $12.85 and traded as low as $12.31. PGIM High Yield Bond Fund shares last traded at $12.4250, with a volume of 273,568 shares trading hands.

PGIM High Yield Bond Fund Stock Performance

The business has a 50 day moving average of $12.85 and a two-hundred day moving average of $13.53.

PGIM High Yield Bond Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Thursday, August 13th will be given a dividend of $0.105 per share. This represents a c) dividend on an annualized basis and a dividend yield of 10.1%. The ex-dividend date of this dividend is Thursday, August 13th.

Institutional Trading of PGIM High Yield Bond Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mallini Complete Financial Planning LLC raised its holdings in PGIM High Yield Bond Fund by 4.2% during the second quarter. Mallini Complete Financial Planning LLC now owns 23,330 shares of the company’s stock worth $305,000 after buying an additional 938 shares during the last quarter. Intellus Advisors LLC grew its holdings in shares of PGIM High Yield Bond Fund by 9.6% during the fourth quarter. Intellus Advisors LLC now owns 17,494 shares of the company’s stock valued at $253,000 after buying an additional 1,527 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of PGIM High Yield Bond Fund by 3.9% during the third quarter. Envestnet Asset Management Inc. now owns 42,010 shares of the company’s stock worth $604,000 after acquiring an additional 1,567 shares in the last quarter. Private Advisor Group LLC lifted its position in PGIM High Yield Bond Fund by 1.1% in the 1st quarter. Private Advisor Group LLC now owns 150,223 shares of the company’s stock valued at $1,977,000 after acquiring an additional 1,596 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new position in PGIM High Yield Bond Fund during the 1st quarter valued at about $26,000.

About PGIM High Yield Bond Fund

PGIM High Yield Bond Fund (NYSE:ISD) is an exchange‐traded fund designed to provide investors with broad exposure to the high yield corporate debt market. Launched and managed by PGIM Investments, the fund seeks to generate current income by investing predominantly in U.S. dollar‐denominated below‐investment‐grade corporate bonds. Through its open‐end structure, ISD offers daily liquidity, allowing investors to gain access to a diversified portfolio of high yield debt instruments across a range of industries.

The fund’s investment approach emphasizes rigorous, bottom‐up credit research conducted by PGIM’s global fixed income team.