PGIM Global High Yield Fund (NYSE:GHY) Stock Price Up 3.3% – Here’s What Happened

Shares of PGIM Global High Yield Fund, Inc (NYSE:GHY) traded up 3.3% during trading on Tuesday . The stock traded as high as $11.67 and last traded at $11.64. 310,957 shares traded hands during mid-day trading, an increase of 94% from the average session volume of 160,053 shares. The stock had previously closed at $11.27.

PGIM Global High Yield Fund Stock Performance

The stock’s 50 day simple moving average is $12.43 and its two-hundred day simple moving average is $12.51.

PGIM Global High Yield Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Sunday, May 31st. Shareholders of record on Thursday, May 14th will be paid a dividend of $0.105 per share. The ex-dividend date is Thursday, May 14th. This represents a c) dividend on an annualized basis and a yield of 10.8%.

Institutional Investors Weigh In On PGIM Global High Yield Fund

Large investors have recently modified their holdings of the stock. Stolper Co lifted its position in shares of PGIM Global High Yield Fund by 2.8% during the 4th quarter. Stolper Co now owns 42,898 shares of the company’s stock worth $529,000 after buying an additional 1,174 shares during the period. Steward Partners Investment Advisory LLC grew its position in PGIM Global High Yield Fund by 2.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 82,344 shares of the company’s stock valued at $1,016,000 after acquiring an additional 1,664 shares during the period. Uncommon Cents Investing LLC raised its stake in PGIM Global High Yield Fund by 22.5% during the fourth quarter. Uncommon Cents Investing LLC now owns 12,665 shares of the company’s stock worth $156,000 after acquiring an additional 2,325 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of PGIM Global High Yield Fund by 53.8% during the third quarter. CoreCap Advisors LLC now owns 7,337 shares of the company’s stock valued at $95,000 after acquiring an additional 2,567 shares during the period. Finally, Merit Financial Group LLC lifted its holdings in shares of PGIM Global High Yield Fund by 14.7% during the fourth quarter. Merit Financial Group LLC now owns 21,214 shares of the company’s stock valued at $262,000 after acquiring an additional 2,712 shares during the period.

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.