Northwestern Mutual Wealth Management Co. Invests $2.73 Million in PGIM High Yield Bond Fund, Inc. $ISD

Northwestern Mutual Wealth Management Co. purchased a new stake in shares of PGIM High Yield Bond Fund, Inc. (NYSE:ISD) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 209,371 shares of the company’s stock, valued at approximately $2,734,000.

Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp bought a new position in shares of PGIM High Yield Bond Fund in the first quarter valued at approximately $26,000. Allworth Financial LP purchased a new stake in shares of PGIM High Yield Bond Fund during the 4th quarter valued at $68,000. Evolve Private Wealth LLC purchased a new stake in shares of PGIM High Yield Bond Fund during the 2nd quarter valued at $164,000. Integrated Wealth Concepts LLC bought a new stake in shares of PGIM High Yield Bond Fund during the 1st quarter worth $217,000. Finally, MSH Capital Advisors LLC bought a new stake in shares of PGIM High Yield Bond Fund during the 2nd quarter worth $223,000.

PGIM High Yield Bond Fund Stock Performance

Shares of ISD stock opened at $12.25 on Tuesday. The company has a 50 day moving average of $12.66 and a 200-day moving average of $13.22. PGIM High Yield Bond Fund, Inc. has a 12-month low of $12.21 and a 12-month high of $14.79.

PGIM High Yield Bond Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Thursday, August 13th will be issued a $0.105 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date of this dividend is Thursday, August 13th.

PGIM High Yield Bond Fund Profile

PGIM High Yield Bond Fund (NYSE:ISD) is an exchange‐traded fund designed to provide investors with broad exposure to the high yield corporate debt market. Launched and managed by PGIM Investments, the fund seeks to generate current income by investing predominantly in U.S. dollar‐denominated below‐investment‐grade corporate bonds. Through its open‐end structure, ISD offers daily liquidity, allowing investors to gain access to a diversified portfolio of high yield debt instruments across a range of industries.

The fund’s investment approach emphasizes rigorous, bottom‐up credit research conducted by PGIM’s global fixed income team.