Prudential Short Duration High Yield Fund, Inc.
(NYSE:ISD) (the “Fund”), a diversified, closed-end management
investment company, announced today its unaudited investment
results for the quarter ended May 31, 2017.
As of May 31,
2017 As of
February 28, 2017
As of
May 31, 2016
Net Assets $560,069,209 $561,023,738 $558,403,144 Loan Outstanding
$180,000,000 $195,000,000 $205,000,000 Shares Outstanding
33,256,724 33,256,724 33,256,724 Net Asset Value ("NAV") Per Share
(a) $16.84 $16.87 $16.79 Market Price Per Share (b) $15.59 $15.77
$15.58 Premium / (Discount) to NAV (c) -7.4% -6.5% -7.2%
Undistributed / (Overdistributed) Net Investment Income (d)
$2,436,730 $2,446,112 $3,499,918 Undistributed / (Overdistributed)
Net Investment Income Per Share $0.07 $0.07 $0.11
Quarter
Ended
May 31, 2017
Quarter Ended
February 28, 2017
Quarter Ended
May 31, 2016
Quarterly
Earnings
Net Investment Income $9,664,429 $9,731,432 $10,799,087 Net
Realized and Unrealized Gain (Loss) ($389,677) $7,266,093
$19,271,080 Net Increase / (Decrease) in Net Assets From
Operations $9,274,752 $16,997,525 $30,070,167
Quarterly Earnings
Per Common Share Outstanding
Net Investment Income $0.29 $0.29 $0.32 Net Realized and Unrealized
Gain / (Loss) ($0.01) $0.22 $0.58 Net Increase /
(Decrease) in Net Assets From Operations $0.28 $0.51
$0.90
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.
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 shareholder’s capital.
Undistributed Net Investment Income ("UNII") represents the balance
to date of a fund’s net investment income less its distributions.
Includes prior year UNII of $2,436,730 for the fiscal year ended
5/31/17 and $3,499,918 for the fiscal year ended 5/31/16.
The Fund files its annual and semi-annual stockholders reports
on Form N-CSR, as well as complete schedule of investments with the
Securities and Exchange Commission (the “Commission”) for the first
and third quarters of each fiscal year on Form N-Q. The Fund’s
Forms N-Q are available on the Commission’s website at
http://www.sec.gov. The Fund’s Forms N-Q may also be reviewed and
copied at the Commission’s Public Reference Room in Washington,
D.C. Information on the operation and location of the Public
Reference Room may be obtained by calling (202) 551-8090. To obtain
information on Form N-Q or annual and semi-annual stockholder
reports, shareholders can call (800) 451-6788 (toll-free). You may
also call this number to request additional information or to make
other inquiries pertaining to the Fund.
About PGIM and Prudential Financial,
Inc.
With 14 consecutive years of positive third-party institutional
net flows, PGIM, the global asset management businesses of
Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10
largest asset managers in the world with more than $1 trillion in
assets under management as of March 31, 2017. 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 fundamental equity, quantitative equity, public fixed
income, private fixed income, real estate and commercial mortgages.
Its businesses have offices in 16 countries across five continents.
For more information, please visit pgim.com.
Prudential’s additional businesses offer a variety of products
and services, including life insurance, annuities and
retirement-related services. For more information about Prudential,
please visit news.prudential.com.
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.
An investment in 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.
These materials are for informational or educational purposes
only. The information is not intended as investment advice and is
not a recommendation about managing or investing your assets. In
providing these materials PGIM Investments is not acting as your
fiduciary as defined by the Department of Labor.
Please consult with a qualified investment professional if you
wish to obtain investment advice.
The Fund invests in high yield (“junk”) bonds, which are
subject to greater credit and market risks; 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 the Fund.
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.
PGIM Fixed Income is a unit of PGIM, Inc., which is a registered
investment advisor and Prudential Financial company. © 2017
Prudential Financial, Inc. and its related entities. Prudential,
the Prudential logo, and the Rock symbol 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.
0307096-00001-00
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version on businesswire.com: http://www.businesswire.com/news/home/20170705005905/en/
Media:Prudential Financial, Inc.Judith Flynn,
(973)-802-9939judith.flynn@prudential.com
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