BNY Mellon High Yield Strategies Fund (NYSE:DHF - Get Free Report) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 74,000 shares, a growth of 70.9% from the February 28th total of 43,300 shares. Based on an average trading volume of 273,100 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the shares of the company are short sold.
BNY Mellon High Yield Strategies Fund Price Performance
NYSE:DHF traded up $0.01 during trading hours on Wednesday, hitting $2.53. 238,639 shares of the stock traded hands, compared to its average volume of 299,268. BNY Mellon High Yield Strategies Fund has a 1 year low of $2.27 and a 1 year high of $2.69. The stock has a 50 day moving average price of $2.57 and a 200 day moving average price of $2.59.
BNY Mellon High Yield Strategies Fund Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Thursday, April 24th. Investors of record on Wednesday, April 9th will be paid a dividend of $0.0175 per share. This represents a $0.21 dividend on an annualized basis and a dividend yield of 8.30%. The ex-dividend date is Wednesday, April 9th.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of DHF. Pathstone Holdings LLC lifted its position in shares of BNY Mellon High Yield Strategies Fund by 1.9% in the fourth quarter. Pathstone Holdings LLC now owns 5,667,317 shares of the investment management company's stock valued at $14,457,000 after acquiring an additional 105,809 shares in the last quarter. Focus Partners Wealth bought a new stake in BNY Mellon High Yield Strategies Fund during the 4th quarter valued at approximately $28,000. Shaker Financial Services LLC purchased a new position in BNY Mellon High Yield Strategies Fund in the 4th quarter worth approximately $248,000. 1607 Capital Partners LLC boosted its stake 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 purchasing an additional 327,361 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in BNY Mellon High Yield Strategies Fund by 1.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 439,598 shares of the investment management company's stock valued at $1,121,000 after buying an additional 6,210 shares in the last quarter. Institutional investors own 36.16% of the company's stock.
About BNY Mellon High Yield Strategies Fund
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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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