Short Interest in PGIM Global High Yield Fund, Inc (NYSE:GHY) Drops By 48.0%

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

PGIM Global High Yield Fund Stock Performance

Shares of PGIM Global High Yield Fund stock traded up $0.08 during trading on Monday, hitting $11.88. The company’s stock had a trading volume of 81,622 shares, compared to its average volume of 149,444. PGIM Global High Yield Fund has a 52 week low of $11.25 and a 52 week high of $13.74. The stock has a 50-day moving average price of $11.90 and a two-hundred day moving average price of $12.22.

PGIM Global High Yield Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Thursday, August 13th will be paid a $0.105 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) annualized dividend and a dividend yield of 10.6%.

Institutional Trading of PGIM Global High Yield Fund

Several institutional investors have recently modified their holdings of the business. Royal Bank of Canada grew its stake in shares of PGIM Global High Yield Fund by 1.6% in the first quarter. Royal Bank of Canada now owns 534,258 shares of the company’s stock worth $6,224,000 after purchasing an additional 8,412 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of PGIM Global High Yield Fund by 5.6% in the first quarter. Cetera Investment Advisers now owns 421,366 shares of the company’s stock worth $4,909,000 after purchasing an additional 22,400 shares during the last quarter. Personal CFO Solutions LLC bought a new stake in shares of PGIM Global High Yield Fund in the first quarter worth $136,000. Janney Montgomery Scott LLC grew its stake in shares of PGIM Global High Yield Fund by 5.5% in the first quarter. Janney Montgomery Scott LLC now owns 76,770 shares of the company’s stock worth $894,000 after purchasing an additional 4,018 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of PGIM Global High Yield Fund by 26.5% in the fourth quarter. Invesco Ltd. now owns 519,176 shares of the company’s stock worth $6,407,000 after purchasing an additional 108,885 shares during the last quarter.

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.