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SDHY · PGIM Short Duration High Yield Opportunities Fund

Know the company

Company overview

PGIM Short Duration High Yield Opportunities Fund lends through shorter-duration high-yield securities. Shorter duration can limit some rate sensitivity, but borrower credit still determines whether interest and capital come back.

Business: Short-duration high-yield bond CEF
Listing: SDHY · New York Stock Exchange
Reporting period: 2026-01-31
Dividend schedule: Monthly

How the business works

Bond interest becomes net investment income after expenses and financing. Credit losses and bond-price moves change net asset value outside that recurring income line.

PGIM Short Duration High Yield Opportunities Fund: financial report supporting reported earnings

Dividend & earnings snapshot

Dividend payments

Per common share

$0.108Reviewed declaration · Payment Nov 30, 2026

Regular dividend

Announced Aug 31, 2026

Dates and company reports

Announcement: Aug 31, 2026
Declaration: Aug 31, 2026
Ex-dividend: Nov 12, 2026
Record: Nov 12, 2026
Payment: Nov 30, 2026

Dividend declaration for payment Nov 30, 2026 · www.morningstar.com · Announced Aug 31, 2026

Extras are shown separately and are not assumed to repeat.

Reported earnings

Each measure shown separately, per share

Net investment income$0.50

Aug 1, 2025 to Jan 31, 2026

Distribution yield8.28%Sourced distributions divided by dated market price

Reported annual income yield5.87%Reported net investment income $0.9800 per share for 2024-08-01 to 2025-07-31, divided by approved 2025-07-31 market price $16.6900. Excludes capital gains; historical, not a current yield or forecast.

Reported annual investment income$0.98Per share for 2025 FY. Excludes investment gains.

Annual dividend$1.30Current regular payment annualized per share

Dividend payment history

Date or month	Per share
Sep 30, 2026	$0.108

Reported earnings and sources

Reported earnings for the latest four periods. Compare the same earnings measure across periods; different measures are not added together.

Reporting period	Per share	Source
Aug 1, 2025 to Jan 31, 2026	$0.50	SEC Announced Mar 27, 2026

Cash distributions and reported returns

Cash distributions are the total paid per share during each reporting period, including any gains or return of capital. Period lengths may differ, so compare the dates before comparing amounts. Short periods are not annualized.

Reporting period	Ending NAV	NAV change	Distributions / share	Reported NAV total return	Source
Aug 1, 2025 to Jan 31, 2026	$17.68	-0.73%	$0.65	Not available	SDHY SEC financial highlights for 2026-01-31. Exact fiscal-period distributions include all cash components; partial periods are not annualized.
Aug 1, 2024 to Jul 31, 2025	$17.81	+1.19%	$1.30	Not available	SDHY SEC financial highlights for 2026-01-31. Exact fiscal-period distributions include all cash components; partial periods are not annualized.

View older history (up to 7 years)

Reporting period	Ending NAV	NAV change	Distributions / share	Reported NAV total return	Source
Aug 1, 2023 to Jul 31, 2024	$17.60	+2.09%	$1.30	Not available	SDHY SEC financial highlights for 2026-01-31. Exact fiscal-period distributions include all cash components; partial periods are not annualized.
Aug 1, 2022 to Jul 31, 2023	$17.24	-1.32%	$1.30	Not available	SDHY SEC financial highlights for 2026-01-31. Exact fiscal-period distributions include all cash components; partial periods are not annualized.

NAV change excludes distributions. Reported NAV total return includes reinvestment and is copied from the fund statement, not estimated by adding cash distributions to the NAV change.

How to read SDHY income

Interest after fund expenses is the main recurring income measure. Compare it with distributions for the same full reporting period.

Watch defaults, interest-rate changes and expenses. Income can hold up while falling bond or loan values reduce NAV.

Income and distributions

Income and cash distributions per share for the same dated periods. Shorter periods are kept separate and are not annualized. Interest after fund expenses is the main recurring income measure. Compare it with distributions for the same full reporting period.

Reporting period	Net investment income/share	Total distributions/share	Income coverage
2025-08-01 to 2026-01-31	$0.50	$0.65	76.9%
2024-08-01 to 2025-07-31	$0.98	$1.30	75.4%

View older history (up to 7 years)

Reporting period	Net investment income/share	Total distributions/share	Income coverage
2023-08-01 to 2024-07-31	$0.90	$1.30	69.2%
2022-08-01 to 2023-07-31	$0.78	$1.30	60.0%

The assets behind the earnings

How SDHY makes money

Financial snapshot: 2026-01-31. Research reviewed 2026-09-18. Compare results for the reporting periods shown. Historical results are not a forecast.

The assets it owns

$419.985 million net assets600 holdings · As of 7/31/2026

Net assets checked 2026-09-11. Borrowings and preferred financing are excluded from this net-assets figure.

A complete, comparable portfolio allocation is not available for this chart. No percentages have been estimated.

PGIM Short Duration High Yield Opportunities Fund: net assets and portfolio information, checked 2026-09-11

Reported earnings and distributions

2025-08-01 through 2026-01-31 · $ per share

Fund net investment income per common share; actual reporting period, not annualized$0.5000

For the six months ended January 31, 2026, SDHY reported $0.50 of net investment income and $0.65 of distributions per share. Net asset value moved from $17.81 to $17.68. Income provided most of the cash, while credit and investment results are needed to explain the rest.

PGIM Short Duration High Yield Opportunities Fund: financial report supporting reported earnings

The income-producing business

Bond interest, less expenses and financing costs, is the central recurring income source. A declared distribution can include gains or return of capital as well as investment income; its amount is not an earnings figure.

The earnings available to shareholders depend on the cash generated by these activities after operating and financing costs. Portfolio gains, financing proceeds and recurring income should be evaluated separately.

PGIM Short Duration High Yield Opportunities Fund: financial report supporting reported earnings

Financing can amplify income and losses

The portfolio information checked September 11, 2026 reports effective leverage of 22.15%.

Financing can increase earning assets, but its cost reduces income available to common shareholders. When borrowing costs rise or portfolio income falls, the distribution can become harder to sustain.

PGIM Short Duration High Yield Opportunities Fund: net assets and portfolio information, checked 2026-09-11

What the reported earnings support

PGIM Short Duration High Yield Opportunities Fund reported $0.5000 per share for 2025-08-01 through 2026-01-31, measured as Fund net investment income per common share; actual reporting period, not annualized.

Actual per-share reporting period, without annualisation. Net investment income, realized gains, unrealized changes and cash distributions are different measures. This comparison is not the Fly High forward Dividend Coverage Ratio.

PGIM Short Duration High Yield Opportunities Fund: financial report supporting reported earnings

Portfolio risk

Losses or weaker cash generation in shorter-duration below-investment-grade credit can reduce the resources available for future distributions.

Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.

PGIM Short Duration High Yield Opportunities Fund: financial report supporting reported earnings

Distribution sustainability

A maintained payment can exceed investment results. Review NAV and reported income together rather than treating distribution yield as total return.

Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.

PGIM Short Duration High Yield Opportunities Fund: financial report supporting reported earnings

What would change the earnings picture?

Read the next like-length income and cash figures with credit losses, refinancing, financing costs and net asset value.

Net asset value (NAV)

NAV per share$16.69Sep 29, 2026

Market price$15.36Sep 29, 2026

PREMIUM / DISCOUNT TO NAV7.97% discountCalculated from the displayed same-date values.

NAV is the fund's assets minus liabilities, divided by shares outstanding. All values are USD per share.

CEFConnect current common-share NAV and closing market price, both dated 2026-09-29. The published premium or discount agrees with the calculation within source rounding. Older audited NAV history remains unchanged.

NAV source · Market-price source

Fly High context

Read the next like-length income and cash figures with credit losses, refinancing, financing costs and net asset value.

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U.S. federal · Tax year 2025

Dividend tax treatment

For SDHY's December 31, 2025 payment, PGIM estimated 29% return of capital.

Total ordinary dividends: Not confirmed
Qualified dividends: Not confirmed
Capital-gain distributions: Not confirmed
Return of capital: 29%

This is a close look at the payment dates named above, not a verdict on every distribution paid in 2025. Other payments can have a different mix. Use this estimate to understand those checks, then compare the whole year with your tax statement.

Read the source behind these figures. Your Form 1099-DIV is the guide for your own filing.

The company calls this breakdown an estimate. This covers only the $0.1080 December 31 payment, not all of 2025. PGIM estimated $0.0313 return of capital for this payment. Its fiscal-year-to-date percentage covers a different period. The 2025 Form 8937 covers February through July payments separately. Your Form 1099-DIV may show a different final mix. See the company's estimate.

Tax year: 2025.

Tax details and source

Total ordinary dividends (includes qualified): Not confirmed
Section 199A portion (within ordinary dividends): Not confirmed
Exempt-interest distributions: Not confirmed
Reporting form: Form 1099-DIV
Source date: 2025-12-31

Qualified dividends are included in total ordinary dividends. Section 199A is a separate designation within ordinary dividends, not extra income or qualified dividend income.

Tax source

Your account type, holding period and circumstances affect treatment. Use your broker’s tax statement for filing. Return of capital generally reduces cost basis; amounts beyond basis can be taxable. IRS dividend guidance.

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