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

BNY Mellon High Yield Strategies Fund (NYSE:DHF) was the recipient of a large decline in short interest during the month of October. As of October 30th, there was short interest totaling 44,955 shares, a decline of 73.8% from the October 15th total of 171,819 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 305,295 shares, the days-to-cover ratio is currently 0.1 days.

Insider Activity

In related news, Director Joseph S. Dimartino acquired 20,000 shares of the business’s stock in a transaction dated Thursday, September 24th. The stock was bought at an average price of $2.22 per share, with a total value of $44,400.00. Following the acquisition, the director owned 240,000 shares in the company, valued at $532,800. This represents a 9.09% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 16.61% of the stock is currently owned by corporate insiders.

Institutional Trading of BNY Mellon High Yield Strategies Fund

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisors Asset Management Inc. bought a new position in shares of BNY Mellon High Yield Strategies Fund during the 3rd quarter worth approximately $1,631,000. Allspring Global Investments Holdings LLC increased its holdings in shares of BNY Mellon High Yield Strategies Fund by 19.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,176,083 shares of the investment management company’s stock worth $2,611,000 after acquiring an additional 192,113 shares during the last quarter. M Holdings Securities Inc. bought a new stake in BNY Mellon High Yield Strategies Fund in the 3rd quarter valued at $54,000. Calamos Advisors LLC bought a new stake in BNY Mellon High Yield Strategies Fund in the 3rd quarter valued at $165,000. Finally, Capital Investment Advisors LLC lifted its stake in shares of BNY Mellon High Yield Strategies Fund by 13.0% during the 3rd quarter. Capital Investment Advisors LLC now owns 225,755 shares of the investment management company’s stock worth $501,000 after buying an additional 25,995 shares during the last quarter. Institutional investors own 36.16% of the company’s stock.

BNY Mellon High Yield Strategies Fund Price Performance

DHF traded up $0.01 during trading on Friday, reaching $2.23. 458,990 shares of the stock were exchanged, compared to its average volume of 348,054. The stock’s 50 day moving average price is $2.24 and its two-hundred day moving average price is $2.37. BNY Mellon High Yield Strategies Fund has a twelve month low of $2.12 and a twelve month high of $2.57.

BNY Mellon High Yield Strategies Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 20th. Investors of record on Thursday, November 5th will be paid a $0.0175 dividend. This represents a $0.21 annualized dividend and a yield of 9.4%. The ex-dividend date is Thursday, November 5th.

BNY Mellon High Yield Strategies Fund Company Profile

BNY Mellon High Yield Strategies Fund is a closed-end investment fund that seeks to provide a high level of current income, with capital appreciation as a secondary objective. It invests primarily in high-yield debt securities, often called below-investment-grade or “junk” bonds, issued by companies. The fund’s portfolio is managed with a focus on income-producing corporate debt and may include securities with different maturities and credit ratings. As with other high-yield investments, these securities can carry greater credit risk than investment-grade bonds.