BNY Mellon High Yield Strategies Fund (NYSE:DHF) Sees Large Increase in Short Interest

BNY Mellon High Yield Strategies Fund (NYSE:DHF) saw a large increase in short interest in August. As of August 14th, there was short interest totaling 93,580 shares, an increase of 132.3% from the July 30th total of 40,276 shares. Based on an average daily trading volume, of 217,479 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the shares of the stock are sold short.

BNY Mellon High Yield Strategies Fund Trading Up 0.4%

DHF stock traded up $0.01 during midday trading on Friday, hitting $2.36. The company’s stock had a trading volume of 98,585 shares, compared to its average volume of 313,104. BNY Mellon High Yield Strategies Fund has a 12 month low of $2.32 and a 12 month high of $2.63. The company has a 50 day moving average of $2.39 and a two-hundred day moving average of $2.42.

BNY Mellon High Yield Strategies Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be given a $0.0175 dividend. This represents a c) annualized dividend and a yield of 8.9%. The ex-dividend date is Thursday, September 10th.

Institutional Trading of BNY Mellon High Yield Strategies Fund

Hedge funds have recently made changes to their positions in the business. Jane Street Group LLC lifted its stake in BNY Mellon High Yield Strategies Fund by 11.5% in the fourth quarter. Jane Street Group LLC now owns 72,470 shares of the investment management company’s stock worth $180,000 after purchasing an additional 7,490 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of BNY Mellon High Yield Strategies Fund by 493.9% during the first 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 grew its stake in shares of BNY Mellon High Yield Strategies Fund by 31.4% during the third quarter. Citadel Advisors LLC now owns 38,193 shares of the investment management company’s stock valued at $99,000 after buying an additional 9,120 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of BNY Mellon High Yield Strategies Fund in the second quarter worth approximately $26,000. Finally, World Investment Advisors bought a new stake in shares of BNY Mellon High Yield Strategies Fund during the 4th quarter worth approximately $35,000. 36.16% of the stock is currently owned by hedge funds and other 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.