The New America High Income Fund Inc.
HYB
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Ellen E. Terry
- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 100 East Pratt Street Baltimore MD United States of America 21202
- IPO Date
- Feb 19, 1988
- CIK
- 0000825345
- Website
- newamerica-hyb.com
- Similar Companies
- Business
- The New America High Income Fund, Inc. (NYSE: HYB) operates as a diversified, closed-end management investment company focused on providing high current income while seeking to preserve stockholders' capital through a professionally managed, leveraged portfolio of high yield fixed-income securities. The fund primarily invests in non-investment grade corporate debt securities rated BB or lower by S&P or Ba or lower by Moody's, commonly known as junk bonds; it targets issuers across a broad range of sectors including energy, cable operators, financial services, metals and mining, healthcare, wireless communications, information technology, broadcasting, utilities, telecommunications, transportation, chemicals, manufacturing, aerospace and defense, real estate, supermarkets, automotive, forest products, lodging, airlines, entertainment, leisure, food and tobacco, and real estate investment trusts. Managed by T. Rowe Price Associates, Inc., which oversees approximately $1.6 trillion in assets including $20 billion in high yield investments as of September 30, 2024, the fund benchmarks its performance against the Credit Suisse High Yield Index and the Citigroup 10-Year Treasury Index. Founded on November 19, 1987, and headquartered at 33 Broad Street in Boston, Massachusetts, the fund conducts its investment activities exclusively within the fixed income markets of the United States, serving institutional and retail investors seeking income-oriented exposure to below-investment-grade securities. In a major strategic reorganization announced in early 2025, the fund plans to merge into the T. Rowe Price High Yield Fund, a separate series of the T. Rowe Price High Yield Fund, Inc., with the closing initially targeted for February 21, 2025 but later delayed to a mutually agreed date pending customary conditions; upon completion, HYB shareholders will receive Investor Class shares of the T. Rowe Price Fund, and HYB shares ceased trading on the NYSE after market close on February 11, 2025. Prior to the reorganization, the fund declared a final distribution of $0.04 per share, payable on January 31, 2025 to shareholders of record as of January 17, 2025. This restructuring represents a significant operational shift, transitioning the fund's assets and operations under the broader T. Rowe Price platform to enhance scale and investor opportunities.