Short Interest in Credit Suisse High Yield Bond Fund, Inc. (NYSEAMERICAN:DHY) Expands By 64.3%

Key Points

• Short interest surged 64.3% to 352,285 shares as of August 31, representing approximately 0.4% of DHY’s shares outstanding and 0.5 days of average trading volume.
• DHY opened at $1.62, near its 52-week low, and is scheduled for a 1-for-10 reverse split before the market opens on September 30.
• The fund declared a monthly dividend of $0.0155 per share, payable September 23 to shareholders of record on September 16, for a reported annualized yield of 11.5%.

Credit Suisse High Yield Bond Fund, Inc. (NYSEAMERICAN:DHY - Get Free Report) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 352,285 shares, a growth of 64.3% from the August 15th total of 214,459 shares. Based on an average daily trading volume, of 713,628 shares, the short-interest ratio is presently 0.5 days. Approximately 0.4% of the company's stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DHY. Integrity Advisory Solutions LLC grew its stake in Credit Suisse High Yield Bond Fund by 24.9% in the fourth quarter. Integrity Advisory Solutions LLC now owns 26,501 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 5,280 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Credit Suisse High Yield Bond Fund by 5.9% during the first quarter. Janney Montgomery Scott LLC now owns 158,866 shares of the real estate investment trust's stock valued at $302,000 after buying an additional 8,837 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in Credit Suisse High Yield Bond Fund during the 4th quarter worth approximately $40,000. WealthTrust Asset Management LLC bought a new position in Credit Suisse High Yield Bond Fund during the 1st quarter worth approximately $41,000. Finally, World Investment Advisors acquired a new position in shares of Credit Suisse High Yield Bond Fund in the 4th quarter worth approximately $106,000.

Credit Suisse High Yield Bond Fund Trading Down 1.2%

DHY stock opened at $1.62 on Thursday. Credit Suisse High Yield Bond Fund has a 1 year low of $1.62 and a 1 year high of $2.13. The stock has a 50-day simple moving average of $1.73 and a 200-day simple moving average of $1.78.

Credit Suisse High Yield Bond Fund shares 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 closing bell on Tuesday, September 29th.

Credit Suisse High Yield Bond Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be given a $0.0155 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a c) annualized dividend and a yield of 11.5%.

Credit Suisse High Yield Bond Fund Company Profile

Credit Suisse High Yield Bond Fund is a closed-end investment fund listed on the NYSE American under the symbol DHY. The fund is designed to provide investors with exposure to the high-yield bond market, commonly known as the below-investment-grade or “junk” bond market.

The fund invests primarily in a diversified portfolio of high-yield corporate debt securities. These holdings may include bonds and other fixed-income instruments issued by companies across a range of industries, with the portfolio focused on generating a high level of current income.

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