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Barry H. Evans, a director at PGIM Global High Yield Fund, Inc. (NYSE:GHY), has sold 3,747 shares of the company's common stock at a price of $12.47 per share, resulting in a total transaction value of $46,725. The sale occurred on August 15, 2024, and was disclosed in a recent filing with the U.S. Securities and Exchange Commission.
The transaction has adjusted Evans' holdings in the company to a total of 83,938 shares following the sale. The shares were sold directly by Evans, as indicated in the filing.
Investors often monitor insider transactions as they can provide insights into the confidence levels of company executives and board members about the firm's prospects. The sell-off by Evans comes at a price that reflects the current market valuation of PGIM Global High Yield Fund's stock.
PGIM Global High Yield Fund, Inc. is known for its focus on high-yield corporate debt instruments, aiming to provide investors with a combination of high income and capital appreciation.
The transaction was signed off by Andrew French, acting as Power of Attorney for Barry H. Evans, and was officially filed on August 19, 2024. The details of the transaction are publicly accessible for shareholders and potential investors to review.
For those interested in following the stock, PGIM Global High Yield Fund, Inc. is listed under the ticker symbol GHY on the New York Stock Exchange.
InvestingPro Insights
PGIM Global High Yield Fund, Inc. (NYSE:GHY) has recently been a topic of discussion following the insider sale by director Barry H. Evans. For investors considering the implications of this transaction, it's pertinent to examine some key metrics and insights provided by InvestingPro. With a market capitalization of approximately $511.55 million and a price-to-earnings ratio of 10.4, GHY presents itself as a potentially attractive investment based on valuation.
One of the notable InvestingPro Tips for GHY is its significant dividend yield, which is currently at 10.08%. This is particularly important for income-focused investors, as the company has a history of maintaining dividend payments for 12 consecutive years. Additionally, GHY's stock generally trades with low price volatility, which may appeal to conservative investors looking for steady performance.
InvestingPro Data also indicates that GHY is trading near its 52-week high, at 99.6% of this peak, with the previous close at $12.50. The stock has shown a positive trend with a year-to-date price total return of 17.05%, and a robust 1-year price total return of 25.58%. These figures could suggest a strong market confidence in the fund's performance and its debt instrument strategies.
For those interested in further insights and metrics, InvestingPro offers additional tips on GHY, which can be accessed at https://www.investing.com/pro/GHY. These tips may provide a deeper understanding of the fund's financial health and market position.
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