BNY Mellon High Yield Strategies Fund (NYSE:DHF) Shares Shorted: Short Interest Down 40.3% in September

BNY Mellon High Yield Strategies Fund (NYSE:DHF) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 23,529 shares, a drop of 40.3% from the August 31st total of 39,442 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 269,878 shares, the short-interest ratio is presently 0.1 days.

Insiders Place Their Bets

In other BNY Mellon High Yield Strategies Fund news, Director Joseph S. Dimartino bought 20,000 shares of the company’s stock in a transaction on Thursday, September 24th. The shares were bought at an average price of $2.22 per share, for a total transaction of $44,400.00. Following the transaction, the director owned 240,000 shares of the company’s stock, valued at approximately $532,800. This trade represents a 9.09% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 16.61% of the company’s stock.

Institutional Trading of BNY Mellon High Yield Strategies Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sit Investment Associates Inc. boosted its holdings in BNY Mellon High Yield Strategies Fund by 1.4% during the fourth quarter. Sit Investment Associates Inc. now owns 3,543,326 shares of the investment management company’s stock worth $8,787,000 after buying an additional 47,342 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in BNY Mellon High Yield Strategies Fund by 17.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 1,872,844 shares of the investment management company’s stock valued at $4,532,000 after buying an additional 275,168 shares in the last quarter. Fiera Capital Corp lifted its position in shares of BNY Mellon High Yield Strategies Fund by 43.9% during the 4th quarter. Fiera Capital Corp now owns 494,528 shares of the investment management company’s stock valued at $1,226,000 after acquiring an additional 150,848 shares during the period. Rivernorth Capital Management LLC lifted its position in shares of BNY Mellon High Yield Strategies Fund by 14.3% during the 1st quarter. Rivernorth Capital Management LLC now owns 366,828 shares of the investment management company’s stock valued at $895,000 after acquiring an additional 45,764 shares during the period. Finally, Bulldog Investors LLP purchased a new stake in shares of BNY Mellon High Yield Strategies Fund during the 1st quarter worth approximately $700,000. Institutional investors and hedge funds own 36.16% of the company’s stock.

BNY Mellon High Yield Strategies Fund Trading Down 0.2%

DHF stock traded down $0.01 on Thursday, reaching $2.21. 322,161 shares of the company’s stock were exchanged, compared to its average volume of 320,454. The stock has a fifty day moving average of $2.33 and a 200-day moving average of $2.38. BNY Mellon High Yield Strategies Fund has a twelve month low of $2.12 and a twelve month high of $2.61.

BNY Mellon High Yield Strategies Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Thursday, October 8th will be paid a dividend of $0.0175 per share. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 9.5%.

About BNY Mellon High Yield Strategies Fund

BNY Mellon High Yield Strategies Fund (NYSE: DHF) is a closed-end investment fund that seeks to provide investors with a high level of current income and, secondarily, capital appreciation. The fund is managed by BNY Mellon Investment Adviser, LLC, and invests primarily in high-yield, below-investment-grade debt securities.

The fund’s portfolio may include corporate bonds, notes, loans and other fixed-income instruments issued by companies across a range of industries. These securities generally offer higher income potential than investment-grade debt but also carry greater credit and default risk.