PGIM 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 August 31, 2018.
As ofAugust 31, 2018
As ofMay 31, 2018
As ofAugust 31, 2017
Net Assets $ 544,108,620 $ 541,660,251 $ 556,020,415 Loan
Outstanding $ 190,000,000 $ 165,000,000 $ 180,000,000 Shares
Outstanding 33,256,724 33,256,724 33,256,724 Net Asset Value
("NAV") Per Share (a) $ 16.36 $ 16.29 $ 16.72 Market Price Per
Share (b) $ 14.23 $ 14.07 $ 15.17 Premium / (Discount) to NAV (c)
-13.0 % -13.6 % -9.3 %
Undistributed / (Overdistributed) Net
InvestmentIncome (d)
$ 663,583 $ 648,719 $ 2,472,269
Undistributed / (Overdistributed) Net
InvestmentIncome Per Share
$ 0.02 $ 0.02 $ 0.07
Quarter EndedAugust 31,
2018
Quarter EndedMay 31,
2018
Quarter EndedAugust 31,
2017
Quarterly
Earnings
Net Investment Income $ 8,495,329 $ 8,573,288 $ 9,261,255 Net
Realized and Unrealized Gain (Loss) $ 2,433,505
($4,371,851 ) ($4,081,308 ) Net Increase /
(Decrease) in Net Assets From Operations $ 10,928,834
$ 4,201,437 $ 5,179,947
Quarterly Earnings
Per Common Share Outstanding
Net Investment Income $ 0.26 $ 0.26 $ 0.28 Net Realized and
Unrealized Gain / (Loss) $ 0.07 ($0.13 )
($0.12 ) Net Increase / (Decrease) in Net Assets From
Operations $ 0.33 $ 0.13 $ 0.16
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
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 $648,719 for
the fiscal year ended 5/31/18 and $2,436,730 for the fiscal year
ended 5/31/1
7.
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 15 consecutive years of positive third-party institutional
net flows, PGIM is the global asset management business of
Prudential Financial, Inc. (NYSE: PRU)— a top-10 investment manager
globally with more than $1 trillion in assets under management,
according to Pensions & Investments’ 2018 Top Money Managers
List. 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 15 countries
across four 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.
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 about managing or investing your retirement
savings. Clients seeking information regarding their particular
investment needs should contact a financial professional.
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. © 2018
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.
1010139-00001-00
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version on businesswire.com: https://www.businesswire.com/news/home/20181004005022/en/
MEDIA:For PGIMJudith Flynn,
973-802-9939judith.flynn@prudential.com
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