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

BNY Mellon High Yield Strategies Fund (NYSE:DHF - Get Free Report) saw a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 62,500 shares, a decline of 37.2% from the January 31st total of 99,600 shares. Based on an average daily volume of 238,400 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On BNY Mellon High Yield Strategies Fund

Several large investors have recently added to or reduced their stakes in DHF. Pathstone Holdings LLC boosted its position in BNY Mellon High Yield Strategies Fund by 36.9% during the third quarter. Pathstone Holdings LLC now owns 5,561,508 shares of the investment management company's stock worth $14,961,000 after purchasing an additional 1,500,234 shares during the period. 1607 Capital Partners LLC boosted its holdings in BNY Mellon High Yield Strategies Fund by 84.7% in the 4th quarter. 1607 Capital Partners LLC now owns 713,713 shares of the investment management company's stock worth $1,820,000 after buying an additional 327,361 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in BNY Mellon High Yield Strategies Fund by 47.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 879,133 shares of the investment management company's stock valued at $2,242,000 after buying an additional 284,913 shares in the last quarter. Shaker Financial Services LLC bought a new stake in BNY Mellon High Yield Strategies Fund during the 4th quarter valued at $248,000. Finally, LPL Financial LLC raised its holdings in BNY Mellon High Yield Strategies Fund by 30.0% during the 4th quarter. LPL Financial LLC now owns 339,504 shares of the investment management company's stock valued at $866,000 after acquiring an additional 78,294 shares during the period. Hedge funds and other institutional investors own 36.16% of the company's stock.

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BNY Mellon High Yield Strategies Fund Price Performance

BNY Mellon High Yield Strategies Fund stock traded down $0.03 during trading on Wednesday, hitting $2.57. The stock had a trading volume of 594,553 shares, compared to its average volume of 251,061. The stock's 50 day moving average is $2.59 and its two-hundred day moving average is $2.59. 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 will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.0175 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.21 annualized dividend and a dividend yield of 8.19%.

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.