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    Amendment: SEC Form SC 13G/A filed by PGIM Short Duration High Yield Opportunities Fund

    10/3/24 4:05:35 PM ET
    $SDHY
    Finance/Investors Services
    Finance
    Get the next $SDHY alert in real time by email
    SC 13G/A 1 sit241052_13ga.htm AMENDMENT NO. 1 TO SCHEDULE 13G

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

     

    SCHEDULE 13G

     

    Under the Securities Exchange Act of 1934

     

    (Amendment No. 1 *)

     

    PGIM Short Duration High Yield Opportunities Funds

    (SDHY)

     

    (Name of Issuer)

     

    Common Stock

     

    (Title of Class of Securities)

     

    69355J104

     

    (CUSIP Number)

     

    August 19, 2024

     

    (Date of Event Which Requires Filing of this Statement)

     

    Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

     

      ☒ Rule 13d-1(b)
         
      ☐ Rule 13d-1(c)
         
      ☐ Rule 13d-1(d)

     

    * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

     

    The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

     

     

     

     

    Schedule 13G/A

     

    CUSIP No. 69355J104

     

    1

    Names of Reporting Persons

    Sit Investment Associates, Inc.

    2

    Check the appropriate box if a member of a Group (see instructions)

    (a)  ☐

    (b)  ☒

    3

    Sec Use Only

     

    4

    Citizenship or Place of Organization

    State of Minnesota

    Number of Shares Beneficially Owned by Each Reporting Person With: 5

    Sole Voting Power

    383,426

    6

    Shared Voting Power

    0

    7

    Sole Dispositive Power

    383,426

    8

    Shared Dispositive Power

    0

    9

    Aggregate Amount Beneficially Owned by Each Reporting Person

    383,426

    10

    Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

    ☐

    11

    Percent of class represented by amount in row (9)

    1.55%

    12

    Type of Reporting Person (See Instructions)

    IA

     

     

     

     

    Item 1 (a)Name of Issuer:

    PGIM Short Duration High Yield Opportunities Fund

     

    Item 1 (b)Address of Issuer’s Principal Executive Offices:

    655 Broad Street, 6th Floor

    Newark, New Jersey 07102

     

    Item 2 (a)Name of Person Filing:

    Sit Investment Associates, Inc.

     

    Item 2 (b)Address of Principal Business Office or, if none, Residence:

    80 South Eighth Street, Suite 3300

    Minneapolis, MN 55402

     

    Item 2 (c)Citizenship:

    Minnesota Corporation

     

    Item 2 (d)Title of Class of Securities:

    Common Stock

     

    Item 2 (e)CUSIP Number:

    69355J104

     

    Item 3If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

    (a)[   ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);

    (b)[   ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);

    (c)[   ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);

    (d)[   ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8);

    (e)[X] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

    (f)[   ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

    (g)[   ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

    (h)[   ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

    (i)[   ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

    (j)[   ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J);

    (k)[   ] Group, in accordance with § 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution: ________

     

    Item 4Ownership

    The information required by this Item 4 with respect to each Reporting Person is set forth in rows 5 through 9 and 11 of the cover pages to this Schedule 13G/A.

     

    The ownership percentages reported are based on 24,673,056 shares of common stock outstanding as of January 31, 2024, as reported in the Issuer’s Report on Form N-CSR filed with the Securities Exchange Commission.

     

    Sit Investment Associates, Inc. (“SIA”) is an investment adviser registered under section 203 of the Investment Advisers Act of 1940. SIA provides investment management services to client accounts (“Accounts”). In its role as investment adviser SIA possess voting and investment power over securities of the Issuer described in this schedule 13G owned by the Accounts and may be deemed to be the beneficial owner of such shares of the Issuer owned by the Accounts. All securities reported in this schedule 13G are owned by the Accounts. Pursuant to Rule 13d-4 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), SIA disclaims beneficial ownership of such securities.

     

     

     

     

    Item 5Ownership of Five Percent or Less of a Class:

    If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [X].

     

    Item 6Ownership of More than Five Percent on Behalf of Another Person:

    Not applicable.

     

    Item 7Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person:

    Not applicable.

     

    Item 8Identification and Classification of Members of the Group:

    Not applicable.

     

    Item 9Notice of Dissolution of Group:

    Not applicable.

     

    Item 10Certification

    By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purposes or effect, other than activities solely in connection with a nomination under § 240.14a-11.

     

    SIGNATURE 

    After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

     

    Sit Investment Associates, Inc.

     

    Date: October 3, 2024
    Signature /s/ Paul E. Rasmussen
    Name / Title: Paul Rasmussen / Vice President

     

     

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