Robert Cignarella, a portfolio manager at PGIM Short Duration High Yield Opportunities Fund (NYSE:SDHY), recently purchased 9,499 shares of the fund, according to a filing with the Securities and Exchange Commission. The transaction, which took place on October 21, 2024, was valued at approximately $157,483, with a purchase price of $16.579 per share. Following this acquisition, Cignarella now holds a total of 17,499 shares in the fund.
InvestingPro Insights
Robert Cignarella's recent purchase of PGIM Short Duration High Yield Opportunities Fund (NYSE:SDHY) shares aligns with several key metrics and insights from InvestingPro. The fund, with a market capitalization of $408.83 million, offers a substantial dividend yield of 7.82% for 2024, making it an attractive option for income-seeking investors. This high yield is consistent with one of the InvestingPro Tips, which notes that SDHY "pays a significant dividend to shareholders."
The fund's recent performance has been robust, with a year-to-date total return of 17.6% and a one-year total return of 29.26%. These strong returns have pushed the stock price to 98.75% of its 52-week high, reflecting another InvestingPro Tip that the stock is "trading near 52-week high." This proximity to the yearly peak suggests that investors, including Cignarella, may see continued value and growth potential in the fund.
It's worth noting that SDHY generally trades with low price volatility, according to InvestingPro Tips. This characteristic may appeal to investors looking for stability in their high-yield investments. For those interested in a more comprehensive analysis, InvestingPro offers additional tips and insights that could provide a fuller picture of SDHY's investment profile.
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