PGIM Global High Yield Fund, Inc (NYSE:GHY) Short Interest Up 345.7% in May

PGIM Global High Yield Fund, Inc (NYSE:GHY) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 104,053 shares, an increase of 345.7% from the April 30th total of 23,347 shares. Based on an average daily trading volume, of 168,386 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GHY. Invesco Ltd. lifted its position in PGIM Global High Yield Fund by 2.2% during the second quarter. Invesco Ltd. now owns 412,289 shares of the company’s stock valued at $5,529,000 after purchasing an additional 8,859 shares during the period. Jane Street Group LLC lifted its position 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 valued at $186,000 after purchasing an additional 3,090 shares during the period. Ameriprise Financial Inc. lifted its position in PGIM Global High Yield Fund by 7.1% during the second quarter. Ameriprise Financial Inc. now owns 512,527 shares of the company’s stock valued at $6,873,000 after purchasing an additional 33,987 shares during the period. Bank of America Corp DE lifted its position in PGIM Global High Yield Fund by 4.5% during the second quarter. Bank of America Corp DE now owns 106,696 shares of the company’s stock valued at $1,431,000 after purchasing an additional 4,601 shares during the period. Finally, Activest Wealth Management lifted its position in PGIM Global High Yield Fund by 35.4% during the third quarter. Activest Wealth Management now owns 59,241 shares of the company’s stock valued at $763,000 after purchasing an additional 15,480 shares during the period.

PGIM Global High Yield Fund Trading Down 0.2%

NYSE:GHY opened at $12.05 on Friday. The company’s 50 day moving average price is $11.84 and its 200-day moving average price is $12.26. PGIM Global High Yield Fund has a 52 week low of $11.25 and a 52 week high of $13.74.

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.