PGIM Global High Yield Fund, Inc (NYSE:GHY) Sees Large Drop in Short Interest

PGIM Global High Yield Fund, Inc (NYSE:GHY) was the target of a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 18,227 shares, a decline 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 currently 0.1 days.

PGIM Global High Yield Fund Stock Performance

Shares of NYSE GHY opened at $11.68 on Monday. PGIM Global High Yield Fund has a one year low of $11.25 and a one year high of $13.43. The business has a fifty day simple moving average of $11.89 and a 200 day simple moving average of $12.13.

PGIM Global High Yield Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders 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 of this dividend is Thursday, August 13th.

Hedge Funds Weigh In On PGIM Global High Yield Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Personal CFO Solutions LLC acquired a new stake in shares of PGIM Global High Yield Fund during the 1st quarter valued at about $136,000. Global Retirement Partners LLC acquired a new position in PGIM Global High Yield Fund in the fourth quarter worth about $137,000. Uncommon Cents Investing LLC raised its position 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 in the last quarter. Jane Street Group LLC lifted its stake in 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 purchasing an additional 3,090 shares during the period. Finally, Evolve Private Wealth LLC bought a new position in PGIM Global High Yield Fund during the fourth quarter worth about $204,000.

About PGIM Global High Yield Fund

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.