BNY Mellon High Yield Strategies Fund (NYSE:DHF) Stock Passes Above Fifty Day Moving Average – Here’s Why

BNY Mellon High Yield Strategies Fund (NYSE:DHF) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $2.59 and traded as high as $2.62. BNY Mellon High Yield Strategies Fund shares last traded at $2.60, with a volume of 518,213 shares changing hands.

BNY Mellon High Yield Strategies Fund Stock Down 0.4 %

The company has a 50 day moving average of $2.59 and a 200 day moving average of $2.59.

BNY Mellon High Yield Strategies Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, February 21st. Investors of record on Thursday, February 6th were paid a $0.0175 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.21 annualized dividend and a dividend yield of 8.08%.

Institutional Investors Weigh In On BNY Mellon High Yield Strategies Fund

Several large investors have recently made changes to their positions in DHF. Pathstone Holdings LLC boosted its position in BNY Mellon High Yield Strategies Fund by 1.9% during the fourth quarter. Pathstone Holdings LLC now owns 5,667,317 shares of the investment management company’s stock worth $14,457,000 after purchasing an additional 105,809 shares during the period. Focus Partners Wealth bought a new stake in BNY Mellon High Yield Strategies Fund during the fourth quarter worth approximately $28,000. Shaker Financial Services LLC bought a new stake in BNY Mellon High Yield Strategies Fund during the fourth quarter worth approximately $248,000. 1607 Capital Partners LLC boosted its position in BNY Mellon High Yield Strategies Fund by 84.7% during the fourth 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. boosted its position in BNY Mellon High Yield Strategies Fund by 1.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 439,598 shares of the investment management company’s stock worth $1,121,000 after purchasing an additional 6,210 shares during the period. Institutional investors own 36.16% of the company’s stock.

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.