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 November 30, 2016.
As of November 30,
2016
As of August 31,
2016
As of November 30,
2015
Net Assets $554,252,657 $565,071,584 $558,459,663 Loan Outstanding
$205,000,000 $205,000,000 $200,000,000 Shares Outstanding
33,256,724 33,256,724 33,256,724 Net Asset Value ("NAV") Per Share
(a) $16.67 $16.99 $16.79 Market Price Per Share (b) $15.14 $16.13
$14.38 Premium / (Discount) to NAV (c) -9.2% -5.1% -14.4%
Undistributed / (Overdistributed) Net Investment Income (d)
$2,941,123 $3,285,878 $4,515,784 Undistributed / (Overdistributed)
Net Investment Income Per Share $0.09 $0.10 $0.14
Quarter Ended November 30,
2016
Quarter Ended August 31,
2016
Quarter Ended November 30,
2015
Quarterly
Earnings
Net Investment Income $10,063,025 $10,579,341 $11,394,329 Net
Realized and Unrealized Gain (Loss) ($10,655,510) $7,063,818
($14,657,170) Net Increase / (Decrease) in Net Assets From
Operations ($592,485) $17,643,159 ($3,262,841)
Quarterly Earnings
Per Common Share Outstanding
Net Investment Income $0.30 $0.32 $0.34 Net Realized and Unrealized
Gain / (Loss) ($0.32) $0.21 ($0.44) Net Increase /
(Decrease) in Net Assets From Operations ($0.02) $0.53
($0.10)
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 $3,499,918 for the fiscal year ended 5/31/16 and
$4,648,041 for the fiscal year ended 5/31/15.
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.
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.
Data and commentary provided in this press release are for
informational purposes only. Prudential 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; 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.
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.
Prudential Investments® is the mutual fund business of
Prudential Financial, Inc., offering a range of open- and
closed-end funds. Please visit www.prudentialfunds.com for more
information.
Prudential Financial, Inc., a financial services leader with
more than $1.3 trillion of assets under management as of September
30, 2016, has operations in the United States, Asia, Europe, and
Latin America. Prudential’s diverse and talented employees are
committed to helping individual and institutional customers grow
and protect their wealth through a variety of products and
services, including life insurance, annuities, retirement-related
services, mutual funds, and investment management. In the United
States, Prudential’s iconic Rock symbol has stood for strength,
stability, expertise, and innovation for more than a century. For
more information, please visit http://www.news.prudential.com/.
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
Investments LLC, Prudential, the Prudential logo, and the Rock
symbol are service marks of Prudential Financial, Inc. and its
related entities, registered in many jurisdictions worldwide.
0300659-00001-00
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version on businesswire.com: http://www.businesswire.com/news/home/20170104006387/en/
Media:Prudential Financial, Inc.Judith Flynn,
973-802-9939judith.flynn@prudential.com
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