PGIM High Yield Bond Fund (NYSE:ISD) Stock Passes Below 50-Day Moving Average – Here’s Why

PGIM High Yield Bond Fund, Inc. (NYSE:ISD) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $13.88 and traded as low as $13.73. PGIM High Yield Bond Fund shares last traded at $13.90, with a volume of 102,735 shares.

PGIM High Yield Bond Fund Trading Up 0.9 %

The stock’s fifty day moving average price is $13.87 and its 200-day moving average price is $13.70.

PGIM High Yield Bond Fund Announces Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a dividend of $0.105 per share. The ex-dividend date of this dividend was Thursday, December 12th. This represents a yield of 8.87%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ISD. Cetera Investment Advisers grew its holdings in PGIM High Yield Bond Fund by 8.3% in the 2nd quarter. Cetera Investment Advisers now owns 171,893 shares of the company’s stock valued at $2,214,000 after buying an additional 13,116 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of PGIM High Yield Bond Fund during the 2nd quarter valued at about $258,000. Raymond James & Associates increased its position in PGIM High Yield Bond Fund by 4.1% during the third quarter. Raymond James & Associates now owns 454,752 shares of the company’s stock worth $6,339,000 after purchasing an additional 18,025 shares during the last quarter. International Assets Investment Management LLC raised its stake in PGIM High Yield Bond Fund by 1,294.0% during the third quarter. International Assets Investment Management LLC now owns 241,594 shares of the company’s stock worth $3,368,000 after purchasing an additional 224,263 shares during the period. Finally, SteelPeak Wealth LLC boosted its holdings in PGIM High Yield Bond Fund by 33.9% in the 3rd quarter. SteelPeak Wealth LLC now owns 653,090 shares of the company’s stock valued at $9,104,000 after purchasing an additional 165,394 shares during the last quarter.

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).