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

BNY Mellon High Yield Strategies Fund (NYSE:DHF) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $2.41 and traded as high as $2.44. BNY Mellon High Yield Strategies Fund shares last traded at $2.4250, with a volume of 208,767 shares traded.

BNY Mellon High Yield Strategies Fund Price Performance

The company’s fifty day simple moving average is $2.41 and its 200 day simple moving average is $2.47.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th were issued a $0.0175 dividend. The ex-dividend date was Thursday, May 7th. This represents a c) annualized dividend and a yield of 8.7%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. raised 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 worth $26,000 after purchasing an additional 8,337 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of BNY Mellon High Yield Strategies Fund in the 2nd quarter worth about $26,000. Avior Wealth Management LLC purchased a new stake in shares of BNY Mellon High Yield Strategies Fund in the 4th quarter worth about $28,000. Integrity Advisory Solutions LLC purchased a new stake in shares of BNY Mellon High Yield Strategies Fund in the 3rd quarter worth about $28,000. Finally, Sentinel Pension Advisors LLC purchased a new stake in shares of BNY Mellon High Yield Strategies Fund in the 4th quarter worth about $33,000. 36.16% of the stock is currently owned by institutional investors.

About BNY Mellon High Yield Strategies Fund

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.