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

PGIM Global High Yield Fund, Inc (NYSE:GHY) was the recipient of a large decrease in short interest in the month of May. As of May 29th, there was short interest totaling 54,124 shares, a decrease of 48.0% from the May 14th total of 104,053 shares. Based on an average daily trading volume, of 96,032 shares, the short-interest ratio is currently 0.6 days.

PGIM Global High Yield Fund Price Performance

Shares of GHY stock opened at $11.88 on Tuesday. PGIM Global High Yield Fund has a 52 week low of $11.25 and a 52 week high of $13.74. The firm has a 50 day moving average of $11.90 and a two-hundred day moving average of $12.22.

PGIM Global High Yield Fund Announces Dividend

The business also recently announced 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. The ex-dividend date is Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 10.6%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Personal CFO Solutions LLC acquired a new stake in PGIM Global High Yield Fund in the 1st quarter valued at about $136,000. Global Retirement Partners LLC purchased a new stake in shares of PGIM Global High Yield Fund during the fourth quarter worth approximately $137,000. Uncommon Cents Investing LLC raised 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 valued at $156,000 after acquiring an additional 2,325 shares in the last quarter. Jane Street Group LLC raised 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 valued at $186,000 after acquiring an additional 3,090 shares in the last quarter. Finally, Evolve Private Wealth LLC purchased a new position in PGIM Global High Yield Fund in the fourth 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.