Short Interest in PGIM Global High Yield Fund, Inc (NYSE:GHY) Grows By 80.5%

PGIM Global High Yield Fund, Inc (NYSE:GHY) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 32,902 shares, an increase of 80.5% from the July 15th total of 18,227 shares. Based on an average trading volume of 130,149 shares, the days-to-cover ratio is currently 0.3 days.

PGIM Global High Yield Fund Price Performance

NYSE:GHY remained flat at $11.68 during mid-day trading on Monday. 70,608 shares of the company traded hands, compared to its average volume of 148,347. The company has a fifty day simple moving average of $11.83 and a two-hundred day simple moving average of $12.03. PGIM Global High Yield Fund has a 52-week low of $11.25 and a 52-week high of $13.43.

PGIM Global High Yield Fund Announces Dividend

The business also recently declared 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 yield of 10.8%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GHY. Invesco Ltd. boosted its stake in shares of PGIM Global High Yield Fund by 2.2% in the 2nd 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 in the last quarter. Jane Street Group LLC lifted its holdings in PGIM Global High Yield Fund by 28.6% during the 2nd 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 last quarter. Ameriprise Financial Inc. boosted its position in PGIM Global High Yield Fund by 7.1% in the second quarter. Ameriprise Financial Inc. now owns 512,527 shares of the company’s stock valued at $6,873,000 after buying an additional 33,987 shares in the last quarter. Bank of America Corp DE grew its stake 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 worth $1,431,000 after buying an additional 4,601 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in PGIM Global High Yield Fund by 11.6% during the third quarter. First Trust Advisors LP now owns 192,585 shares of the company’s stock worth $2,480,000 after buying an additional 20,065 shares during the last quarter.

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.