PGIM Global High Yield Fund, Inc (NYSE:GHY) Sees Significant Drop in Short Interest

PGIM Global High Yield Fund, Inc (NYSE:GHY) was the recipient of a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 96,100 shares, a drop of 22.2% from the December 31st total of 123,500 shares. Based on an average daily volume of 176,500 shares, the short-interest ratio is presently 0.5 days.

Insider Buying and Selling

In related news, Director Barry H. Evans sold 41,885 shares of PGIM Global High Yield Fund stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $12.99, for a total value of $544,086.15. Following the completion of the transaction, the director now owns 42,053 shares in the company, valued at approximately $546,268.47. The trade was a 49.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Trading of PGIM Global High Yield Fund

Institutional investors and hedge funds have recently made changes to their positions in the company. Avestar Capital LLC boosted its stake in PGIM Global High Yield Fund by 8.5% during the 4th quarter. Avestar Capital LLC now owns 124,700 shares of the company’s stock worth $1,536,000 after purchasing an additional 9,760 shares during the period. Apollon Wealth Management LLC acquired a new stake in PGIM Global High Yield Fund during the 4th quarter worth approximately $168,000. Clay Northam Wealth Management LLC acquired a new position in shares of PGIM Global High Yield Fund in the fourth quarter valued at approximately $131,000. Pine Valley Investments Ltd Liability Co purchased a new position in PGIM Global High Yield Fund in the 3rd quarter valued at $179,000. Finally, Penserra Capital Management LLC purchased a new position in PGIM Global High Yield Fund during the 3rd quarter worth $4,889,000.

PGIM Global High Yield Fund Stock Performance

Shares of NYSE:GHY traded down $0.04 during trading on Thursday, hitting $12.98. The company’s stock had a trading volume of 24,148 shares, compared to its average volume of 323,135. PGIM Global High Yield Fund has a fifty-two week low of $11.11 and a fifty-two week high of $13.45. The business has a 50 day moving average price of $12.77 and a two-hundred day moving average price of $12.63.

PGIM Global High Yield Fund Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.105 per share. This represents a dividend yield of 9.75%. The ex-dividend date of this dividend was Thursday, December 12th.

PGIM Global High Yield Fund Company Profile

PGIM Global Short Duration High Yield Fund, Inc is a closed ended fixed income mutual fund launched and managed by PGIM Investments LLC. The fund is co-managed by PGIM Fixed Income. It invests in fixed income markets across the globe. The fund primarily invests in high yield fixed income instruments of varying maturities that are rated Ba1 or lower by Moody’s Investors Service, Inc or BB+ or lower by Standard & Poor’s Ratings Services.