PGIM Global High Yield Fund (NYSE:GHY) Stock Breaks Below 50 Day Moving Average – What’s Next?

PGIM Global High Yield Fund, Inc (NYSE:GHY)’s share price passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $11.00 and traded as low as $10.86. PGIM Global High Yield Fund shares last traded at $10.9310, with a volume of 102,620 shares.

PGIM Global High Yield Fund Stock Down 1.8%

The business has a 50 day moving average price of $10.97 and a two-hundred day moving average price of $11.74.

PGIM Global High Yield Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 12th will be issued a dividend of $0.1050 per share. This represents a $1.26 dividend on an annualized basis and a yield of 11.8%. The ex-dividend date is Thursday, November 12th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GHY. Envestnet Asset Management Inc. increased its position in shares of PGIM Global High Yield Fund by 177.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 453,420 shares of the company’s stock valued at $5,486,000 after purchasing an additional 290,279 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of PGIM Global High Yield Fund in the 2nd quarter worth about $730,000. Royal Bank of Canada boosted its holdings in shares of PGIM Global High Yield Fund by 1.6% in the 1st quarter. Royal Bank of Canada now owns 534,258 shares of the company’s stock worth $6,224,000 after buying an additional 8,412 shares during the last quarter. Avestar Capital LLC boosted its holdings in shares of PGIM Global High Yield Fund by 6.5% in the 2nd quarter. Avestar Capital LLC now owns 179,800 shares of the company’s stock worth $2,176,000 after buying an additional 11,000 shares during the last quarter. Finally, Calamos Advisors LLC bought a new position in PGIM Global High Yield Fund during the second quarter valued at about $336,000.

About PGIM Global High Yield Fund

PGIM Global High Yield Fund, Inc. (NYSE: GHY) is a closed-end investment company that seeks to provide investors with a high level of current income, with capital appreciation as a secondary objective. The fund is managed by PGIM, the global investment management business of Prudential Financial. The fund invests primarily in high-yield, below-investment-grade debt securities, commonly known as “junk bonds.” Its portfolio may include corporate bonds, loans and other fixed-income instruments issued by companies and governments in the United States and other countries.