ISD

Pgim High Yield Bond Fund, Inc.

A closed-end investment fund that pools money to buy high-yield "junk" bonds—riskier corporate debt that pays higher interest—with the goal of producing steady current income for its investors. Launched in 2012, it is managed by PGIM, the global asset-management arm of the insurance giant Prudential Financial. Fun fact: the "junk bond" nickname reportedly dates to financier Michael Milken, who supposedly surveyed a colleague's bonds and quipped, "These are junk!"