PGIM Global High Yield Fund (NYSE:GHY) Trading Down 0.3% – Should You Sell?

PGIM Global High Yield Fund, Inc (NYSE:GHY) dropped 0.3% during mid-day trading on Monday . The company traded as low as $12.85 and last traded at $12.86. Approximately 131,637 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 183,432 shares. The stock had previously closed at $12.90.

PGIM Global High Yield Fund Trading Down 0.3%

The company’s fifty day moving average price is $12.53 and its 200 day moving average price is $12.76.

PGIM Global High Yield Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Thursday, February 12th will be given a $0.105 dividend. The ex-dividend date is Thursday, February 12th. This represents a c) dividend on an annualized basis and a dividend yield of 9.8%.

Institutional Investors Weigh In On PGIM Global High Yield Fund

Large investors have recently bought and sold shares of the company. Shaker Financial Services LLC raised its position in shares of PGIM Global High Yield Fund by 646.9% in the 4th quarter. Shaker Financial Services LLC now owns 221,488 shares of the company’s stock valued at $2,754,000 after buying an additional 191,834 shares in the last quarter. Wolverine Asset Management LLC increased its stake in PGIM Global High Yield Fund by 137.2% in the fourth quarter. Wolverine Asset Management LLC now owns 129,950 shares of the company’s stock valued at $1,604,000 after acquiring an additional 75,168 shares during the last quarter. Guggenheim Capital LLC raised its position in PGIM Global High Yield Fund by 12.5% during the second quarter. Guggenheim Capital LLC now owns 496,345 shares of the company’s stock valued at $6,656,000 after purchasing an additional 55,004 shares in the last quarter. Ameriprise Financial Inc. lifted its stake 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 worth $6,873,000 after purchasing an additional 33,987 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in shares of PGIM Global High Yield Fund in the 3rd quarter valued at $390,000.

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.