BNY Mellon High Yield Strategies Fund (NYSE:DHF) Sees Significant Growth in Short Interest

BNY Mellon High Yield Strategies Fund (NYSE:DHF - Get Free Report) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 110,700 shares, an increase of 127.3% from the December 15th total of 48,700 shares. Based on an average daily volume of 245,800 shares, the days-to-cover ratio is presently 0.5 days.

BNY Mellon High Yield Strategies Fund Price Performance

BNY Mellon High Yield Strategies Fund stock traded up $0.01 during trading hours on Tuesday, hitting $2.58. The company had a trading volume of 61,789 shares, compared to its average volume of 132,086. The company has a 50-day moving average price of $2.60 and a two-hundred day moving average price of $2.56. BNY Mellon High Yield Strategies Fund has a 1 year low of $2.27 and a 1 year high of $2.69.

BNY Mellon High Yield Strategies Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, January 13th. Investors of record on Friday, December 27th were issued a $0.0175 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 8.14%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Freestate Advisors LLC purchased a new position in BNY Mellon High Yield Strategies Fund during the 3rd quarter valued at about $30,000. Choreo LLC purchased a new position in BNY Mellon High Yield Strategies Fund during the second quarter valued at approximately $37,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in BNY Mellon High Yield Strategies Fund in the fourth quarter worth approximately $63,000. Walleye Capital LLC purchased a new stake in BNY Mellon High Yield Strategies Fund during the third quarter worth $88,000. Finally, Jane Street Group LLC lifted its holdings in BNY Mellon High Yield Strategies Fund by 198.7% during the third quarter. Jane Street Group LLC now owns 38,519 shares of the investment management company's stock worth $104,000 after buying an additional 25,624 shares during the period. Institutional investors own 36.16% of the company's stock.

About BNY Mellon High Yield Strategies Fund

BNY Mellon High Yield Strategies Fund is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc The fund invests in the fixed income markets of the United States. It primarily invests in fixed income securities of below investment grade quality, including securities of companies at early stages of development and companies with a highly leveraged financial structure.

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