BNY Mellon High Yield Strategies Fund (NYSE:DHF) Shares Cross Below Fifty Day Moving Average – Here’s Why

Shares of BNY Mellon High Yield Strategies Fund (NYSE:DHF) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $2.42 and traded as low as $2.39. BNY Mellon High Yield Strategies Fund shares last traded at $2.4050, with a volume of 458,353 shares.

BNY Mellon High Yield Strategies Fund Stock Up 0.2%

The company has a 50 day simple moving average of $2.42 and a 200-day simple moving average of $2.45.

BNY Mellon High Yield Strategies Fund Announces Dividend

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

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

Several hedge funds have recently made changes to their positions in the business. Park Avenue Securities LLC raised its stake 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 in the last quarter. Jane Street Group LLC grew its stake in shares of 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 valued at $180,000 after buying an additional 7,490 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of BNY Mellon High Yield Strategies Fund by 493.9% in 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 in the last quarter. Citadel Advisors LLC increased its holdings in 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 worth $99,000 after buying an additional 9,120 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in BNY Mellon High Yield Strategies Fund during the second quarter worth $26,000. 36.16% of the stock is owned by institutional investors.

BNY Mellon High Yield Strategies Fund Company Profile

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.