Short Interest in PGIM Global High Yield Fund, Inc (NYSE:GHY) Declines By 58.5%

PGIM Global High Yield Fund, Inc (NYSE:GHY) was the target of a large drop in short interest in July. As of July 15th, there was short interest totaling 18,227 shares, a drop of 58.5% from the June 30th total of 43,951 shares. Based on an average daily volume of 137,583 shares, the short-interest ratio is presently 0.1 days.

PGIM Global High Yield Fund Trading Down 0.6%

Shares of NYSE:GHY traded down $0.07 during midday trading on Wednesday, reaching $11.65. 74,905 shares of the company’s stock traded hands, compared to its average volume of 146,760. PGIM Global High Yield Fund has a one year low of $11.25 and a one year high of $13.43. The stock has a 50 day moving average of $11.89 and a 200 day moving average of $12.12.

PGIM Global High Yield Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Thursday, August 13th will be issued a $0.105 dividend. This represents a c) annualized dividend and a yield of 10.8%. The ex-dividend date is Thursday, August 13th.

Hedge Funds Weigh In On PGIM Global High Yield Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC purchased a new stake in shares of PGIM Global High Yield Fund during the 4th quarter valued at about $137,000. Personal CFO Solutions LLC bought a new position in PGIM Global High Yield Fund during the first quarter valued at approximately $136,000. Uncommon Cents Investing LLC boosted its holdings in PGIM Global High Yield Fund by 22.5% in the fourth quarter. Uncommon Cents Investing LLC now owns 12,665 shares of the company’s stock worth $156,000 after purchasing an additional 2,325 shares during the last quarter. Jane Street Group LLC boosted its holdings in PGIM Global High Yield Fund by 28.6% in the second quarter. Jane Street Group LLC now owns 13,878 shares of the company’s stock worth $186,000 after purchasing an additional 3,090 shares during the last quarter. Finally, Evolve Private Wealth LLC bought a new stake in PGIM Global High Yield Fund in the 4th quarter worth approximately $204,000.

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.