BNY Mellon High Yield Strategies Fund (NYSE:DHF) Short Interest Up 132.3% in August

BNY Mellon High Yield Strategies Fund (NYSE:DHF) was the target of a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 93,580 shares, a growth of 132.3% from the July 30th total of 40,276 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average trading volume of 217,479 shares, the short-interest ratio is presently 0.4 days.

Institutional Investors Weigh In On BNY Mellon High Yield Strategies Fund

A number of hedge funds have recently added to or reduced their stakes in DHF. Newbridge Financial Services Group Inc. purchased a new position in shares of BNY Mellon High Yield Strategies Fund in the 2nd quarter worth $26,000. Geneos Wealth Management Inc. increased its position in 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 acquiring an additional 8,337 shares during the last quarter. World Investment Advisors bought a new position in BNY Mellon High Yield Strategies Fund in the fourth quarter valued at about $35,000. Marex Group plc bought a new position in BNY Mellon High Yield Strategies Fund in the fourth quarter valued at about $38,000. Finally, Fermata Advisors LLC purchased a new position in BNY Mellon High Yield Strategies Fund in the second quarter worth about $42,000. 36.16% of the stock is currently owned by hedge funds and other institutional investors.

BNY Mellon High Yield Strategies Fund Stock Performance

Shares of DHF stock traded up $0.01 during trading hours on Friday, reaching $2.36. The company had a trading volume of 98,585 shares, compared to its average volume of 313,104. The business has a fifty day moving average price of $2.39 and a 200-day moving average price of $2.41. BNY Mellon High Yield Strategies Fund has a one year low of $2.32 and a one year high of $2.63.

BNY Mellon High Yield Strategies Fund Announces Dividend

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

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.