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

BNY Mellon High Yield Strategies Fund (NYSE:DHF) shares crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $2.41 and traded as high as $2.42. BNY Mellon High Yield Strategies Fund shares last traded at $2.4050, with a volume of 149,657 shares.

BNY Mellon High Yield Strategies Fund Stock Down 0.6%

The company has a 50 day moving average of $2.41 and a 200 day moving average of $2.44.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 9th will be given a $0.0175 dividend. This represents a c) annualized dividend and a yield of 8.7%. The ex-dividend date of this dividend is Thursday, July 9th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Park Avenue Securities LLC lifted its position in shares of BNY Mellon High Yield Strategies Fund by 1.2% during the 4th quarter. Park Avenue Securities LLC now owns 418,045 shares of the investment management company’s stock worth $1,037,000 after purchasing an additional 5,065 shares during the last quarter. Jane Street Group LLC grew its holdings in BNY Mellon High Yield Strategies Fund by 11.5% in the 4th quarter. Jane Street Group LLC now owns 72,470 shares of the investment management company’s stock valued at $180,000 after buying an additional 7,490 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in BNY Mellon High Yield Strategies Fund by 493.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 10,025 shares of the investment management company’s stock valued at $26,000 after buying an additional 8,337 shares during the last quarter. Citadel Advisors LLC increased its position in BNY Mellon High Yield Strategies Fund by 31.4% in the 3rd quarter. Citadel Advisors LLC now owns 38,193 shares of the investment management company’s stock worth $99,000 after buying an additional 9,120 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new position in BNY Mellon High Yield Strategies Fund in the 2nd quarter worth approximately $26,000. Institutional investors and hedge funds own 36.16% of the company’s stock.

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.