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

BNY Mellon High Yield Strategies Fund (NYSE:DHF) saw a large decline in short interest in February. As of February 13th, there was short interest totaling 109,150 shares, a decline of 56.8% from the January 29th total of 252,752 shares. Based on an average daily volume of 449,863 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the shares of the company are short sold. Currently, 0.1% of the shares of the company are short sold. Based on an average daily volume of 449,863 shares, the days-to-cover ratio is presently 0.2 days.

BNY Mellon High Yield Strategies Fund Stock Down 1.0%

DHF stock traded down $0.03 during trading on Friday, reaching $2.49. 418,216 shares of the company were exchanged, compared to its average volume of 450,257. The stock’s 50 day moving average price is $2.52 and its 200 day moving average price is $2.55. BNY Mellon High Yield Strategies Fund has a 52-week low of $2.21 and a 52-week high of $2.63.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 10th will be paid a $0.0175 dividend. This represents a c) dividend on an annualized basis and a yield of 8.5%. The ex-dividend date of this dividend is Tuesday, March 10th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Pathstone Holdings LLC lifted its stake in shares of BNY Mellon High Yield Strategies Fund by 21.6% in the 3rd quarter. Pathstone Holdings LLC now owns 6,553,950 shares of the investment management company’s stock valued at $16,975,000 after purchasing an additional 1,162,574 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in BNY Mellon High Yield Strategies Fund in the third quarter valued at approximately $1,706,000. Rivernorth Capital Management LLC acquired a new position in BNY Mellon High Yield Strategies Fund during the fourth quarter valued at approximately $796,000. Wolverine Asset Management LLC purchased a new stake in BNY Mellon High Yield Strategies Fund during the fourth quarter worth approximately $607,000. Finally, Capital Investment Advisors LLC increased its position in shares of BNY Mellon High Yield Strategies Fund by 1,574.1% in the fourth quarter. Capital Investment Advisors LLC now owns 206,832 shares of the investment management company’s stock worth $513,000 after acquiring an additional 194,477 shares in the last quarter. 36.16% of the stock is owned by hedge funds and other 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.