PGIM Short Duration High Yield Fund (PSH)
BATS BATS Primary 
SET Summary
PSH Chart
Pershing Square USA opens 16% below IPO price on NYSE debut
Bill Ackman's Pershing Square Holdings (LSE:PSH) USA opened at $42 on its New York Stock Exchange debut, falling 16% below its IPO price of $50, marking a rocky start to a listing that had been years in the making. The stumble comes after Ackman, the billionaire hedge fund manager, had spent years publicly building the case for a closed-end fund modeled on the empire of Warren Buffett, and even after raising $5 billion for the venture.
Bill Ackman just invested $1 billion in this stock
While the actual fourth-quarter (Q4) 13-f filing is yet to be published, a February 11 Pershing Square (LON: PSH) presentation revealed a massive new technology bet made late last year by the billionaire investor Bill Ackman.
PGIM Short Duration High Yield Fund Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| TMB Timothy M. Bidwell Hazlett, BURT & WATSON Inc. | 461 | $23,410.83 | $23,033.86 | -$376.97 | -1.61% |
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 6,184 | $312,883.58 | $309,076.32 | -$3,807.26 | -1.22% |
 Andrew Agosta Prosperity Financial Group, Inc. | 6,700 | $339,455.1 | $334,330 | -$5,125.1 | -1.51% |
 Christopher C. Powers Farther Finance Advisors, LLC | 2,728 | $137,396 | $136,156.94 | -$1,239.06 | -0.9% |
 Mark Romin Lakeshore Financial Planning, Inc. | 20,047 | $1.01M | $1M | -$5,657.58 | -0.56% |
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PGIM Short Duration High Yield Fund Profile
| BATS Exchange | US Country |
Overview
The fund is designed to provide investors with exposure to high yield fixed income instruments, primarily focusing on those that are rated below investment grade. These types of investments are often referred to as "junk bonds." The fund operates with the primary aim of achieving its investment objectives by creating a diversified portfolio that includes a mix of these high-yield bonds and similar investments. The investment strategy particularly targets fixed income instruments that, according to a Nationally Recognized Statistical Rating Organization (NRSRO), fall below investment grade, as well as those that, if unrated, are deemed by the subadviser to be of comparable quality. The fund commits to investing at least 80% of its investable assets into these categories, underlining its focus on high-yield, lower-grade bonds as its core investment avenue.
Products and Services
- High Yield Fixed Income Instruments
These are the primary components of the fund’s portfolio, consisting of bonds and other debt securities that are rated below investment grade. The selection includes a diversified mix to minimize risk while aiming for high returns. These instruments typically offer higher yields than those found in more conservative fixed income categories due to their higher risk of default.
- Investment in Junk Bonds
Junk bonds are a significant part of the fund’s investment strategy. By definition, these are bonds rated below investment grade, reflecting a higher risk compared to investment-grade bonds. The fund focuses on these bonds seeking to leverage the potential for higher income in exchange for the increased risk associated with these securities.
- Derivatives and Similar Economic Investments
In addition to direct investments in bonds, the fund may also engage in derivatives and other financial instruments that have similar economic characteristics to high yield fixed income instruments. These can include options, futures, and swap contracts designed to mimic the performance of the underlying bonds or to hedge against portfolio risks, providing the fund with additional flexibility in its investment approach.
