BNY Mellon High Yield Strategies Fund (NYSE:DHF) Short Interest Up 19.7% in March

BNY Mellon High Yield Strategies Fund (NYSE:DHF) saw a large growth in short interest in March. As of March 13th, there was short interest totaling 97,421 shares, a growth of 19.7% from the February 26th total of 81,355 shares. Based on an average daily trading volume, of 382,960 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the shares of the stock are short sold.

BNY Mellon High Yield Strategies Fund Stock Performance

NYSE:DHF traded up $0.07 during trading hours on Tuesday, hitting $2.41. The company’s stock had a trading volume of 271,389 shares, compared to its average volume of 392,574. BNY Mellon High Yield Strategies Fund has a twelve month low of $2.21 and a twelve month high of $2.63. The stock has a fifty day simple moving average of $2.47 and a 200-day simple moving average of $2.51.

BNY Mellon High Yield Strategies Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th will be paid a $0.0175 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 8.7%. The ex-dividend date is Wednesday, April 8th.

Institutional Investors Weigh In On BNY Mellon High Yield Strategies Fund

Several hedge funds and other institutional investors have recently made changes to their positions in DHF. Pathstone Holdings LLC lifted its stake in BNY Mellon High Yield Strategies Fund by 21.6% in the 3rd quarter. Pathstone Holdings LLC now owns 6,553,950 shares of the investment management company’s stock valued at $16,975,000 after purchasing an additional 1,162,574 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in shares of BNY Mellon High Yield Strategies Fund during the third quarter worth $1,706,000. Rivernorth Capital Management LLC acquired a new position in shares of BNY Mellon High Yield Strategies Fund during the fourth quarter worth $796,000. Wolverine Asset Management LLC bought a new position in shares of BNY Mellon High Yield Strategies Fund in the 4th quarter valued at $607,000. Finally, Capital Investment Advisors LLC lifted its stake in shares of BNY Mellon High Yield Strategies Fund by 1,574.1% in the 4th quarter. Capital Investment Advisors LLC now owns 206,832 shares of the investment management company’s stock valued at $513,000 after acquiring an additional 194,477 shares during the last quarter. 36.16% of the stock is owned by institutional investors.

About BNY Mellon High Yield Strategies Fund

BNY Mellon High Yield Strategies Fund (NYSE: DHF) is a diversified, closed-end management investment company that seeks to provide a high level of current income by primarily investing in below-investment-grade corporate debt securities. The fund allocates its portfolio across a broad range of industries and issuers, with an emphasis on high-yield bonds of U.S. companies, and may employ leverage to enhance income potential. It also maintains flexibility to invest in other fixed-income securities, including senior loans, preferred securities and selective investment-grade corporate debt.

Launched in 2011 and sponsored by The Bank of New York Mellon Corporation, the fund is managed by the global fixed-income team at Mellon Investments Corporation, a subsidiary of BNY Mellon.