PGIM High Yield Bond Fund, Inc. (ISD) to Issue Monthly Dividend of $0.11 on January 8th

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) declared a monthly dividend on Friday, November 28th. Investors of record on Friday, December 26th will be given a dividend of 0.105 per share on Thursday, January 8th. This represents a c) annualized dividend and a dividend yield of 8.7%. The ex-dividend date of this dividend is Friday, December 26th.

PGIM High Yield Bond Fund Trading Down 0.1%

Shares of PGIM High Yield Bond Fund stock traded down $0.02 on Wednesday, reaching $14.54. 13,441 shares of the stock were exchanged, compared to its average volume of 101,071. PGIM High Yield Bond Fund has a twelve month low of $11.82 and a twelve month high of $14.73. The business has a 50 day moving average price of $14.48 and a two-hundred day moving average price of $14.36.

Insiders Place Their Bets

In other news, Director Brian Reid sold 16,833 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $14.41, for a total transaction of $242,563.53. Following the sale, the director directly owned 3,064 shares of the company’s stock, valued at $44,152.24. This represents a 84.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. lifted its holdings in PGIM High Yield Bond Fund by 10.3% in the 1st quarter. Raymond James Financial Inc. now owns 706,602 shares of the company’s stock valued at $10,069,000 after purchasing an additional 65,922 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of PGIM High Yield Bond Fund by 50.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 76,178 shares of the company’s stock valued at $1,086,000 after buying an additional 25,463 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of PGIM High Yield Bond Fund by 4.5% in the first quarter. Royal Bank of Canada now owns 210,373 shares of the company’s stock worth $2,997,000 after buying 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 about $217,000. Finally, Modern Wealth Management LLC grew its stake in PGIM High Yield Bond Fund by 2.1% during the 1st quarter. Modern Wealth Management LLC now owns 43,025 shares of the company’s stock valued at $613,000 after acquiring an additional 890 shares in the last quarter.

PGIM High Yield Bond Fund Company Profile

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.