Credit Suisse High Yield Bond Fund, Inc. (NYSEAMERICAN:DHY) Sees Large Decrease in Short Interest

Key Points

• Short interest fell 66.6% to 214,459 shares as of August 14, representing approximately 0.2% of DHY’s shares and just 0.3 days of average trading volume.
• DHY announced a 1-for-10 reverse stock split scheduled before market open on September 30, with shareholder share counts adjusted after the September 29 close.
• The fund paid a monthly dividend of $0.0155 per share, equating to an annualized yield of approximately 10.9%; shares remained at $1.71, near their 12-month low.

Credit Suisse High Yield Bond Fund, Inc. (NYSEAMERICAN:DHY - Get Free Report) was the recipient of a large drop in short interest in August. As of August 14th, there was short interest totaling 214,459 shares, a drop of 66.6% from the July 30th total of 642,616 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 716,871 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DHY. Rockefeller Capital Management L.P. purchased a new stake in shares of Credit Suisse High Yield Bond Fund during the fourth quarter worth $40,000. WealthTrust Asset Management LLC purchased a new position in shares of Credit Suisse High Yield Bond Fund in the first quarter worth about $41,000. Osaic Holdings Inc. boosted its position in Credit Suisse High Yield Bond Fund by 227.2% during the second quarter. Osaic Holdings Inc. now owns 24,628 shares of the real estate investment trust's stock worth $52,000 after acquiring an additional 17,101 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Credit Suisse High Yield Bond Fund during the 4th quarter valued at about $51,000. Finally, Winter & Associates Inc. purchased a new stake in Credit Suisse High Yield Bond Fund during the 4th quarter valued at about $53,000.

Credit Suisse High Yield Bond Fund Stock Performance

DHY stock remained flat at $1.71 during trading on Friday. The company had a trading volume of 734,777 shares, compared to its average volume of 698,497. Credit Suisse High Yield Bond Fund has a 12 month low of $1.71 and a 12 month high of $2.13. The business's fifty day moving average price is $1.75 and its 200-day moving average price is $1.81.

Shares of Credit Suisse High Yield Bond Fund are set to reverse split before the market opens on Wednesday, September 30th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, September 29th.

Credit Suisse High Yield Bond Fund Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 17th were paid a $0.0155 dividend. This represents a c) annualized dividend and a yield of 10.9%. The ex-dividend date of this dividend was Monday, August 17th.

About Credit Suisse High Yield Bond Fund

The Credit Suisse High Yield Bond Fund NYSEAMERICAN: DHY is a closed-end management investment company that seeks to provide investors with high current income by primarily investing in below-investment-grade, U.S. dollar-denominated corporate debt securities. The fund offers exposure to a broad array of high-yield bonds issued by companies across various sectors, including industrials, communications, and financial services. It is structured to trade on the NYSE American exchange, enabling investors to gain intraday access to a diversified high-yield portfolio.

In managing its portfolio, the fund adheres to a disciplined credit research process that evaluates issuers' fundamentals, cash flow profiles, and relative valuations.

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