PGIM High Yield Bond Fund (NYSE:ISD) Stock Price Crosses Below 50-Day Moving Average – Should You Sell?

Shares of PGIM High Yield Bond Fund, Inc. (NYSE:ISD) passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $14.44 and traded as low as $14.35. PGIM High Yield Bond Fund shares last traded at $14.4250, with a volume of 98,615 shares trading hands.

PGIM High Yield Bond Fund Stock Up 0.0%

The company’s 50 day moving average price is $14.44 and its two-hundred day moving average price is $14.22.

PGIM High Yield Bond Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 28th. Shareholders of record on Thursday, November 13th will be given a dividend of $0.105 per share. This represents a c) annualized dividend and a dividend yield of 8.7%. The ex-dividend date is Thursday, November 13th.

Insider Activity at PGIM High Yield Bond Fund

In other news, Director Brian Reid sold 16,833 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $14.41, for a total value of $242,563.53. Following the sale, the director directly owned 3,064 shares in the company, valued at approximately $44,152.24. This represents a 84.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Hedge Funds Weigh In On PGIM High Yield Bond Fund

Several hedge funds have recently bought and sold shares of ISD. Intellus Advisors LLC grew its position 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 buying an additional 734 shares in the last quarter. Modern Wealth Management LLC lifted its stake in PGIM High Yield Bond Fund by 2.1% in the first quarter. Modern Wealth Management LLC now owns 43,025 shares of the company’s stock worth $613,000 after acquiring an additional 890 shares during the period. Cetera Investment Advisers lifted its stake in PGIM High Yield Bond Fund by 0.5% in the second quarter. Cetera Investment Advisers now owns 179,897 shares of the company’s stock worth $2,549,000 after acquiring an additional 962 shares during the period. Envestnet Asset Management Inc. grew its holdings in 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 acquiring an additional 1,567 shares in the last quarter. Finally, Stolper Co increased its position in PGIM High Yield Bond Fund by 4.8% during the 2nd quarter. Stolper Co now owns 39,041 shares of the company’s stock valued at $553,000 after purchasing an additional 1,802 shares during the period.

About PGIM High Yield Bond Fund

PGIM High Yield Bond Fund, Inc is a close ended fixed income mutual fund launched and managed by Prudential Investments LLC. The fund is co-managed by Prudential Investment Management, Inc It invests in the fixed income markets of the United States. The fund primarily invests in a diversified portfolio of high yield fixed income instruments that are rated below investment grade (Ba1 or lower by Moody’s Investors Service, Inc or BB+ or lower by Standard & Poor’s Ratings Services).