BNY Mellon High Yield Strategies Fund (NYSE:DHF) Short Interest Update

BNY Mellon High Yield Strategies Fund (NYSE:DHF) saw a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 93,802 shares, a growth of 171.2% from the May 14th total of 34,593 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 217,292 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Closed End Fund Advisors Inc. purchased a new position in BNY Mellon High Yield Strategies Fund in the 4th quarter worth about $109,000. World Investment Advisors purchased a new position in BNY Mellon High Yield Strategies Fund in the 4th quarter worth about $35,000. Wolverine Asset Management LLC purchased a new position in BNY Mellon High Yield Strategies Fund in the 4th quarter worth about $607,000. Shaker Financial Services LLC increased its stake in BNY Mellon High Yield Strategies Fund by 18.0% in the 4th quarter. Shaker Financial Services LLC now owns 144,185 shares of the investment management company’s stock worth $360,000 after purchasing an additional 21,992 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in BNY Mellon High Yield Strategies Fund by 5.8% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,485,373 shares of the investment management company’s stock worth $3,684,000 after purchasing an additional 81,825 shares in the last quarter. 36.16% of the stock is owned by institutional investors and hedge funds.

BNY Mellon High Yield Strategies Fund Price Performance

Shares of DHF traded up $0.02 during trading hours on Friday, reaching $2.42. 289,675 shares of the company’s stock traded hands, compared to its average volume of 320,777. The business’s fifty day simple moving average is $2.42 and its two-hundred day simple moving average is $2.46. BNY Mellon High Yield Strategies Fund has a twelve month low of $2.33 and a twelve month high of $2.63.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be issued a dividend of $0.0175 per share. This represents a c) dividend on an annualized basis and a yield of 8.7%. The ex-dividend date of this dividend is Friday, June 5th.

BNY Mellon High Yield Strategies Fund Company Profile

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.