PGIM High Yield Bond Fund (NYSE:ISD) Share Price Passes Below Fifty Day Moving Average – Here’s Why

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $14.56 and traded as low as $14.24. PGIM High Yield Bond Fund shares last traded at $14.29, with a volume of 89,112 shares changing hands.

PGIM High Yield Bond Fund Stock Down 0.3%

The company has a 50 day moving average of $14.56 and a 200 day moving average of $14.51.

PGIM High Yield Bond Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Sunday, May 31st. Shareholders of record on Thursday, May 14th will be issued a $0.105 dividend. The ex-dividend date is Thursday, May 14th. This represents a c) dividend on an annualized basis and a yield of 8.8%.

Hedge Funds Weigh In On PGIM High Yield Bond Fund

Institutional investors have recently added to or reduced their stakes in the stock. Intellus Advisors LLC raised its holdings in shares of PGIM High Yield Bond Fund by 6.7% during the 2nd quarter. Intellus Advisors LLC now owns 11,642 shares of the company’s stock worth $165,000 after acquiring an additional 734 shares during the period. Cetera Investment Advisers grew its stake in shares of PGIM High Yield Bond Fund by 0.5% in the 2nd quarter. Cetera Investment Advisers now owns 179,897 shares of the company’s stock valued at $2,549,000 after buying an additional 962 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of PGIM High Yield Bond Fund by 3.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 42,010 shares of the company’s stock worth $604,000 after buying an additional 1,567 shares during the last quarter. Mallini Complete Financial Planning LLC raised its position in shares of PGIM High Yield Bond Fund by 8.5% during the 4th quarter. Mallini Complete Financial Planning LLC now owns 21,857 shares of the company’s stock valued at $316,000 after buying an additional 1,706 shares during the period. Finally, Future Financial Wealth Managment LLC raised its position in shares of PGIM High Yield Bond Fund by 12.5% during the 3rd quarter. Future Financial Wealth Managment LLC now owns 18,000 shares of the company’s stock valued at $259,000 after buying an additional 2,000 shares during the period.

About PGIM High Yield Bond Fund

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.