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PGIM Short Duration High Yield Opportunities Fund (SDHY) announced its initial distribution of $0.108 per common share, payable on January 29, 2021, resulting in an annualized yield of 6.48%. Monthly distributions of the same amount will continue in February 2021. Following its IPO in November 2020, which raised approximately $542 million, the Fund aims for total returns via high yield fixed income instruments rated below investment grade.
The Fund targets shorter duration bonds for lower risk and potential income generation.
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