PGIM High Yield Bond Fund, Inc. (NYSE:ISD) Sees Significant Growth in Short Interest

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) saw a large growth in short interest in August. As of August 14th, there was short interest totaling 21,183 shares, a growth of 268.7% from the July 30th total of 5,745 shares. Based on an average daily volume of 139,680 shares, the short-interest ratio is currently 0.2 days.

PGIM High Yield Bond Fund Price Performance

Shares of NYSE:ISD remained flat at $12.34 on Friday. 55,428 shares of the stock were exchanged, compared to its average volume of 104,239. The stock’s fifty day simple moving average is $12.64 and its 200-day simple moving average is $13.17. PGIM High Yield Bond Fund has a fifty-two week low of $12.21 and a fifty-two week high of $14.79.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ISD. Royal Bank of Canada boosted its stake in shares of PGIM High Yield Bond Fund by 4.5% during the 1st quarter. Royal Bank of Canada now owns 210,373 shares of the company’s stock worth $2,997,000 after acquiring an additional 8,976 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in PGIM High Yield Bond Fund during the first quarter worth $217,000. Raymond James Financial Inc. raised its holdings in PGIM High Yield Bond Fund by 7.3% during the second quarter. Raymond James Financial Inc. now owns 758,216 shares of the company’s stock worth $10,744,000 after purchasing an additional 51,614 shares during the last quarter. Jane Street Group LLC purchased a new stake in PGIM High Yield Bond Fund during the second quarter worth $350,000. Finally, Ameriprise Financial Inc. boosted its position in PGIM High Yield Bond Fund by 16.1% during the second quarter. Ameriprise Financial Inc. now owns 263,469 shares of the company’s stock worth $3,733,000 after purchasing an additional 36,485 shares in the last quarter.

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.