Credit Suisse High Yield Bond Fund, Inc. (NYSEAMERICAN:DHY) Sees Significant Decrease in Short Interest
by Danessa Lincoln · The Markets DailyCredit Suisse High Yield Bond Fund, Inc. (NYSEAMERICAN:DHY – Get Free Report) was the target of a significant decline in short interest in May. As of May 29th, there was short interest totaling 229,477 shares, a decline of 89.9% from the May 14th total of 2,281,431 shares. Based on an average trading volume of 613,442 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.3% of the company’s stock are short sold.
Insider Buying and Selling
In related news, insider Charles Gerber bought 16,000 shares of the company’s stock in a transaction on Thursday, April 16th. The shares were acquired at an average cost of $1.88 per share, with a total value of $30,080.00. Following the completion of the acquisition, the insider owned 16,000 shares of the company’s stock, valued at $30,080. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 14.35% of the company’s stock.
Institutional Investors Weigh In On Credit Suisse High Yield Bond Fund
Hedge funds have recently added to or reduced their stakes in the stock. Adapt Wealth Advisors LLC bought a new stake in Credit Suisse High Yield Bond Fund in the third quarter worth $31,000. Rockefeller Capital Management L.P. bought a new position in shares of Credit Suisse High Yield Bond Fund during the fourth quarter valued at $40,000. WealthTrust Asset Management LLC bought a new position in shares of Credit Suisse High Yield Bond Fund during the first quarter valued at $41,000. Integrity Advisory Solutions LLC bought a new position in shares of Credit Suisse High Yield Bond Fund during the third quarter valued at $44,000. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Credit Suisse High Yield Bond Fund during the fourth quarter valued at $51,000.
Credit Suisse High Yield Bond Fund Trading Up 0.6%
Credit Suisse High Yield Bond Fund stock traded up $0.01 during mid-day trading on Tuesday, hitting $1.74. The company had a trading volume of 951,653 shares, compared to its average volume of 611,697. The stock’s 50 day moving average price is $1.80 and its two-hundred day moving average price is $1.92. Credit Suisse High Yield Bond Fund has a 12 month low of $1.73 and a 12 month high of $2.16.
Credit Suisse High Yield Bond Fund Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Monday, June 15th will be issued a $0.0155 dividend. This represents a c) annualized dividend and a yield of 10.7%. The ex-dividend date of this dividend is Monday, June 15th.
About Credit Suisse High Yield Bond Fund
The Credit Suisse High Yield Bond Fund (NYSEAMERICAN:DHY) is a closed-end management investment company that seeks to provide investors with high current income by primarily investing in below-investment-grade, U.S. dollar-denominated corporate debt securities. The fund offers exposure to a broad array of high-yield bonds issued by companies across various sectors, including industrials, communications, and financial services. It is structured to trade on the NYSE American exchange, enabling investors to gain intraday access to a diversified high-yield portfolio.
In managing its portfolio, the fund adheres to a disciplined credit research process that evaluates issuers’ fundamentals, cash flow profiles, and relative valuations.