PGIM High Yield Bond Fund (NYSE:ISD) Stock Price Crosses Below Fifty Day Moving Average – Time to Sell?

by · The Cerbat Gem

PGIM High Yield Bond Fund, Inc. (NYSE:ISD – Get Free Report)’s share price crossed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $11.97 and traded as low as $11.44. PGIM High Yield Bond Fund shares last traded at $11.48, with a volume of 125,751 shares trading hands.

PGIM High Yield Bond Fund Trading Down 0.6%

The stock’s fifty day moving average price is $11.94 and its 200-day moving average price is $12.59.

PGIM High Yield Bond Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 12th will be issued a $0.1050 dividend. The ex-dividend date is Thursday, November 12th. This represents a $1.26 dividend on an annualized basis and a yield of 11.1%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ISD. Mallini Complete Financial Planning LLC raised its position in PGIM High Yield Bond Fund by 4.2% in the second quarter. Mallini Complete Financial Planning LLC now owns 23,330 shares of the company’s stock valued at $305,000 after purchasing an additional 938 shares during the period. Private Advisor Group LLC lifted its stake in shares of PGIM High Yield Bond Fund by 1.1% in the 1st quarter. Private Advisor Group LLC now owns 150,223 shares of the company’s stock valued at $1,977,000 after purchasing an additional 1,596 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of PGIM High Yield Bond Fund in the 1st quarter valued at $26,000. Noble Wealth Management PBC acquired a new position in shares of PGIM High Yield Bond Fund in the 3rd quarter valued at $27,000. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of PGIM High Yield Bond Fund during the 2nd quarter worth $52,000.

About PGIM High Yield Bond Fund

(Get Free Report)

PGIM High Yield Bond Fund, Inc (NYSE: ISD) is a closed-end investment fund that seeks to provide a high level of current income, with capital appreciation as a secondary objective. The fund is managed by PGIM Investments, part of Prudential Financial’s global investment management business.

The fund invests primarily in high-yield corporate bonds, commonly known as below-investment-grade or “junk” bonds. Its portfolio may include debt securities issued by companies across a range of industries and may also include securities issued by non-U.S.

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