PGIM High Yield Bond Fund, Inc. (NYSE: ISD) (the “Fund”), a
diversified, closed-end management investment company, announced
today its unaudited investment results for the quarter ended Feb.
28, 2021.
As of February 28, 2021
As of November 30, 2020
As of February 29, 2020
Net Assets
$566,650,138
$547,229,968
$541,274,654
Loan Outstanding
$180,000,000
$180,000,000
$180,000,000
Shares Outstanding
33,256,724
33,256,724
33,256,724
Net Asset Value (“NAV”) Per Share (a)
$17.04
$16.45
$16.28
Market Price Per Share (b)
$15.43
$14.76
$14.36
Premium / (Discount) to NAV (c)
(9.5%)
(10.3%)
(11.8%)
Undistributed / (Overdistributed) Net
Investment Income (d)
($4,067,265)
($2,757,729)
($748,085)
Undistributed / (Overdistributed) Net
Investment Income Per Share
($0.12)
($0.08)
($0.02)
Quarter Ended February 28, 2021
Quarter Ended November 30, 2020
Quarter Ended February 29, 2020
Quarterly
Earnings
Net Investment Income
$9,166,332
$9,186,457
$9,719,053
Net Realized and Unrealized Gain
(Loss)
$20,729,706
$13,550,180
($9,880,917)
Net Increase / (Decrease) in Net Assets
From Operations
$29,896,038
$22,736,637
($161,864)
Quarterly Earnings
Per Common Share Outstanding
Net Investment Income
$0.28
$0.28
$0.29
Net Realized and Unrealized Gain /
(Loss)
$0.62
$0.41
($0.30)
Net Increase / (Decrease) in Net Assets
From Operations
$0.90
$0.69
($0.01)
This financial data is unaudited. Amounts do not reflect
adjustments for Generally Accepted Accounting Principles, including
those relating to amortization of premiums on securities held, and
may be updated periodically.
Notes:
(a)
Net Asset Value (“NAV”) Per Share
is total assets less total liabilities divided by the number of
shares outstanding.
(b)
Market Price Per Share is the
closing price on the New York Stock Exchange.
(c)
Premium / (Discount) to NAV is
the % difference between the market price and the NAV price.
(d)
Overdistributed amounts may be
funded by capital gains on portfolio securities or through return
of stockholders’ capital. Undistributed / (Overdistributed) Net
Investment Income (“UNII”) (“ONII”) represents the balance to date
of a fund’s net investment income less its distributions. Includes
prior year UNII of $316,226 for the fiscal year ended May 31, 2020
and the UNII of $461,328 for the fiscal year ended May 31,
2019.
The Fund files its annual and semiannual stockholders reports on
Form N-CSR with the Securities and Exchange Commission (the
“Commission”), which includes its complete schedule of investments.
The Fund also files Form N-PORT with the Commission within 60 days
of the end of each fiscal quarter, including the Fund’s complete
schedule of investments as of its first and third fiscal quarters.
The Fund’s schedule of portfolio holdings is also available on the
Fund’s website as of the end of each month no sooner than 15 days
after the end of the month. The Fund’s filings on Form N-PORT and
stockholder reports on Form N-CSR are available on the Commission’s
website at sec.gov. To obtain additional information or to make
other inquiries pertaining to the Fund, stockholders can call (800)
451-6788 (toll-free).
About PGIM and Prudential Financial, Inc.
PGIM, the global asset management business of Prudential
Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset
managers in the world1 with more than $1.5 trillion in assets under
management as of Dec. 31, 2020. With offices in 16 countries,
PGIM’s businesses offer a range of investment solutions for retail
and institutional investors around the world across a broad range
of asset classes, including public fixed income, private fixed
income, fundamental equity, quantitative equity, real estate and
alternatives. For more information about PGIM, visit pgim.com.
Prudential Financial, Inc. (PFI) of the United States is not
affiliated in any manner with Prudential plc, incorporated in the
United Kingdom or with Prudential Assurance Company, a subsidiary
of M&G plc, incorporated in the United Kingdom. For more
information please visit news.prudential.com.
1Prudential Financial, Inc. (PFI) is the 10th largest investment
manager (out of 527 firms surveyed) in terms of global assets under
management based on Pensions & Investments’ Top Money Managers
list published on June 1, 2020. This ranking represents global
assets under management by PFI as of March 31, 2020. Assets under
management (AUM) are based on company estimates and are subject to
change.
Data and commentary provided in this press release are for
informational purposes only. PGIM Investments LLC, the Investment
Manager of the Fund, and its affiliates do not engage in selling
shares of the Fund. The Fund is subadvised by PGIM Fixed Income, a
business unit of PGIM, Inc. and an affiliate of the investment
manager.
The Fund invests in high yield (“junk”) bonds, which are
subject to greater credit and market risks, including greater risk
of default; derivative securities, which may carry market,
credit, and liquidity risks; foreign securities, which are
subject to currency fluctuation and political uncertainty; and
emerging markets securities, which are subject to greater
volatility and price declines. Fixed income investments are
subject to interest rate risk, where their value will decline as
interest rates rise. There are fees and expenses involved with
investing in these Funds. Diversification does not assure a profit
or protect against a loss in declining markets. There is no
guarantee that dividends or distributions will be paid.
An investment in a closed-end fund’s common stock may be
speculative in that it involves a high degree of risk, should not
constitute a complete investment program, and may result in loss of
principal. Each closed-end fund will have its own unique investment
strategy, risks, charges and expenses that need to be considered
before investing.
This material is being provided for informational or educational
purposes only and does not take into account the investment
objectives or financial situation of any client or prospective
clients. The information is not intended as investment advice and
is not a recommendation. Clients seeking information regarding
their particular investment needs should contact a financial
professional. Please consult with a qualified investment
professional if you wish to obtain investment advice.
PGIM Fixed Income is a unit of PGIM, Inc., which is a registered
investment advisor and Prudential Financial company. © 2021
Prudential Financial, Inc. and its related entities. PGIM and the
PGIM logo are service marks of Prudential Financial, Inc. and its
related entities, registered in many jurisdictions worldwide.
Investment products are not insured by the FDIC or any federal
government agency, may lose value, and are not a deposit of or
guaranteed by any bank or any bank affiliate.
1015465-00011-00 Expiration: 3/31/2022
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version on businesswire.com: https://www.businesswire.com/news/home/20210401005216/en/
MEDIA: Kylie Scott (973)-367-6873
kylie.scott@pgim.com
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