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

PGIM High Yield Bond Fund, Inc. (NYSE:ISD – Get Free Report)’s share price passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $12.85 and traded as low as $12.31. PGIM High Yield Bond Fund shares last traded at $12.4250, with a volume of 273,568 shares trading hands.

PGIM High Yield Bond Fund Stock Down 0.7%

The business’s 50 day moving average price is $12.85 and its two-hundred day moving average price is $13.53.

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PGIM High Yield Bond Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Thursday, August 13th will be issued a dividend of $0.105 per share. The ex-dividend date is Thursday, August 13th. This represents a c) annualized dividend and a dividend yield of 10.1%.

Hedge Funds Weigh In On PGIM High Yield Bond Fund

Institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its holdings in shares of PGIM High Yield Bond Fund by 2.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 835,336 shares of the company’s stock worth $12,087,000 after purchasing an additional 19,216 shares during the last quarter. SteelPeak Wealth LLC lifted its holdings in shares of PGIM High Yield Bond Fund by 7.5% during the first quarter. SteelPeak Wealth LLC now owns 794,786 shares of the company’s stock worth $10,459,000 after purchasing an additional 55,132 shares during the period. Raymond James Financial Inc. grew its stake in shares of PGIM High Yield Bond Fund by 7.3% in the second quarter. Raymond James Financial Inc. now owns 758,216 shares of the company’s stock worth $10,744,000 after purchasing an additional 51,614 shares during the last quarter. Guggenheim Capital LLC increased its holdings in PGIM High Yield Bond Fund by 2.7% in the fourth quarter. Guggenheim Capital LLC now owns 669,557 shares of the company’s stock valued at $9,688,000 after purchasing an additional 17,396 shares during the period. Finally, Bank of America Corp DE increased its holdings in PGIM High Yield Bond Fund by 8.0% in the third quarter. Bank of America Corp DE now owns 498,694 shares of the company’s stock valued at $7,171,000 after purchasing an additional 37,136 shares during the period.

About PGIM High Yield Bond Fund

(Get Free Report)

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.

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