BNY Mellon High Yield Strategies Fund (NYSE:DHF) Sees Large Decline in Short Interest

BNY Mellon High Yield Strategies Fund (NYSE:DHF) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 53,600 shares, a drop of 59.8% from the October 15th total of 133,200 shares. Based on an average trading volume of 353,200 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of BNY Mellon High Yield Strategies Fund

A number of institutional investors have recently modified their holdings of DHF. Cetera Advisors LLC raised its holdings in BNY Mellon High Yield Strategies Fund by 98.2% in the 1st quarter. Cetera Advisors LLC now owns 296,343 shares of the investment management company’s stock worth $717,000 after acquiring an additional 146,818 shares during the last quarter. Integrated Capital Management Inc. grew its position in BNY Mellon High Yield Strategies Fund by 15.0% during the second quarter. Integrated Capital Management Inc. now owns 79,601 shares of the investment management company’s stock valued at $192,000 after buying an additional 10,365 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in BNY Mellon High Yield Strategies Fund by 28.3% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 421,068 shares of the investment management company’s stock valued at $1,015,000 after buying an additional 92,837 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of BNY Mellon High Yield Strategies Fund by 143.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,517,264 shares of the investment management company’s stock worth $6,067,000 after purchasing an additional 1,482,917 shares in the last quarter. Finally, Choreo LLC purchased a new stake in shares of BNY Mellon High Yield Strategies Fund in the 2nd quarter worth $37,000. 36.16% of the stock is currently owned by hedge funds and other institutional investors.

BNY Mellon High Yield Strategies Fund Stock Performance

Shares of NYSE DHF traded up $0.02 during mid-day trading on Friday, reaching $2.58. 270,734 shares of the company were exchanged, compared to its average volume of 339,874. The company’s 50 day moving average price is $2.59 and its 200 day moving average price is $2.50. BNY Mellon High Yield Strategies Fund has a 52 week low of $2.20 and a 52 week high of $2.69.

BNY Mellon High Yield Strategies Fund Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, November 21st. Investors of record on Wednesday, November 6th will be issued a dividend of $0.0175 per share. The ex-dividend date is Wednesday, November 6th. This represents a $0.21 dividend on an annualized basis and a yield of 8.16%.

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.