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 drop in short interest during the month of February. As of February 28th, there was short interest totalling 43,300 shares, a drop of 30.7% from the February 13th total of 62,500 shares. Based on an average trading volume of 259,500 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. LPL Financial LLC lifted its position in shares of BNY Mellon High Yield Strategies Fund by 30.0% during the fourth quarter. LPL Financial LLC now owns 339,504 shares of the investment management company's stock worth $866,000 after acquiring an additional 78,294 shares in the last quarter. Shaker Financial Services LLC bought a new stake in shares of BNY Mellon High Yield Strategies Fund during the 4th quarter valued at $248,000. 1607 Capital Partners LLC lifted its holdings in BNY Mellon High Yield Strategies Fund by 84.7% during 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 in the last quarter. Truist Financial Corp bought a new position in BNY Mellon High Yield Strategies Fund in the 4th quarter worth about $168,000. Finally, J.W. Cole Advisors Inc. purchased a new position in BNY Mellon High Yield Strategies Fund during the 4th quarter valued at about $30,000. 36.16% of the stock is currently owned by hedge funds and other institutional investors.

BNY Mellon High Yield Strategies Fund Price Performance

NYSE DHF traded down $0.01 during trading on Thursday, hitting $2.54. 406,479 shares of the company's stock traded hands, compared to its average volume of 299,215. BNY Mellon High Yield Strategies Fund has a 12-month low of $2.27 and a 12-month high of $2.69. The business has a 50 day moving average of $2.58 and a 200-day moving average of $2.59.

Remove Ads

BNY Mellon High Yield Strategies Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th 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 8.28%. The ex-dividend date is Tuesday, March 11th.

BNY Mellon High Yield Strategies Fund Company Profile

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.