BNY Mellon High Yield Strategies Fund (NYSE:DHF) Share Price Passes Below Fifty Day Moving Average – Should You Sell?

BNY Mellon High Yield Strategies Fund (NYSE:DHF) shares crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $2.51 and traded as low as $2.51. BNY Mellon High Yield Strategies Fund shares last traded at $2.5150, with a volume of 213,710 shares traded.

BNY Mellon High Yield Strategies Fund Price Performance

The stock’s 50-day moving average price is $2.51 and its 200 day moving average price is $2.56.

BNY Mellon High Yield Strategies Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, January 9th. Shareholders of record on Tuesday, December 23rd were issued a dividend of $0.0175 per share. This represents a c) dividend on an annualized basis and a yield of 8.3%. The ex-dividend date was Tuesday, December 23rd.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

Several large investors have recently made changes to their positions in the business. 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. Integrated Capital Management Inc. boosted its position in shares of BNY Mellon High Yield Strategies Fund by 7.5% in the second quarter. Integrated Capital Management Inc. now owns 80,580 shares of the investment management company’s stock valued at $210,000 after acquiring an additional 5,593 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of BNY Mellon High Yield Strategies Fund by 1.2% in the second quarter. Envestnet Asset Management Inc. now owns 443,701 shares of the investment management company’s stock worth $1,154,000 after acquiring an additional 5,309 shares during the last quarter. Wolverine Asset Management LLC increased its position in BNY Mellon High Yield Strategies Fund by 786.4% during the second quarter. Wolverine Asset Management LLC now owns 267,959 shares of the investment management company’s stock worth $697,000 after acquiring an additional 237,730 shares during the period. Finally, Shaker Financial Services LLC raised its stake in BNY Mellon High Yield Strategies Fund by 31.0% during the 2nd quarter. Shaker Financial Services LLC now owns 297,741 shares of the investment management company’s stock valued at $774,000 after purchasing an additional 70,506 shares during the last quarter. Institutional investors and hedge funds own 36.16% of the company’s stock.

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.