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

BNY Mellon High Yield Strategies Fund (NYSE:DHF) saw a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 43,300 shares, a drop of 30.7% from the February 13th total of 62,500 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 259,500 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of BNY Mellon High Yield Strategies Fund

Several large investors have recently modified their holdings of DHF. LPL Financial LLC raised its stake in BNY Mellon High Yield Strategies Fund by 30.0% in the fourth quarter. LPL Financial LLC now owns 339,504 shares of the investment management company’s stock valued at $866,000 after purchasing an additional 78,294 shares in the last quarter. Shaker Financial Services LLC acquired a new position in shares of BNY Mellon High Yield Strategies Fund in the 4th quarter valued at approximately $248,000. 1607 Capital Partners LLC lifted its holdings in shares of BNY Mellon High Yield Strategies Fund by 84.7% during the 4th quarter. 1607 Capital Partners LLC now owns 713,713 shares of the investment management company’s stock worth $1,820,000 after acquiring an additional 327,361 shares during the period. Truist Financial Corp acquired a new stake in shares of BNY Mellon High Yield Strategies Fund during the 4th quarter worth approximately $168,000. Finally, J.W. Cole Advisors Inc. acquired a new stake in shares of BNY Mellon High Yield Strategies Fund during the 4th quarter worth approximately $30,000. 36.16% of the stock is owned by institutional investors and hedge funds.

BNY Mellon High Yield Strategies Fund Stock Down 0.2 %

Shares of NYSE DHF traded down $0.01 during midday trading on Monday, reaching $2.53. The company’s stock had a trading volume of 185,226 shares, compared to its average volume of 298,630. The business’s 50 day moving average price is $2.59 and its two-hundred day moving average price is $2.59. BNY Mellon High Yield Strategies Fund has a fifty-two week low of $2.27 and a fifty-two week high of $2.69.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.0175 per share. The ex-dividend date is Tuesday, March 11th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 8.32%.

BNY Mellon High Yield Strategies Fund Company Profile

BNY Mellon High Yield Strategies Fund is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc The fund invests in the fixed income markets of the United States. It primarily invests in fixed income securities of below investment grade quality, including securities of companies at early stages of development and companies with a highly leveraged financial structure.