BNY Mellon High Yield Strategies Fund (NYSE:DHF) Sees Significant Drop in Short Interest

BNY Mellon High Yield Strategies Fund (NYSE:DHF) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 40,276 shares, a drop of 41.7% from the July 15th total of 69,092 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 315,289 shares, the short-interest ratio is currently 0.1 days.

BNY Mellon High Yield Strategies Fund Trading Down 0.6%

Shares of NYSE DHF traded down $0.01 during mid-day trading on Tuesday, reaching $2.38. The company had a trading volume of 767,504 shares, compared to its average volume of 308,634. BNY Mellon High Yield Strategies Fund has a twelve month low of $2.32 and a twelve month high of $2.63. The stock’s 50 day moving average is $2.39 and its 200-day moving average is $2.42.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be paid a dividend of $0.0175 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a c) dividend on an annualized basis and a dividend yield of 8.8%.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DHF. Newbridge Financial Services Group Inc. bought a new stake in BNY Mellon High Yield Strategies Fund in the second quarter worth approximately $26,000. Geneos Wealth Management Inc. raised its holdings in shares of BNY Mellon High Yield Strategies Fund by 493.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 10,025 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 8,337 shares in the last quarter. World Investment Advisors acquired a new stake in shares of BNY Mellon High Yield Strategies Fund in the 4th quarter valued at $35,000. Marex Group plc bought a new stake in BNY Mellon High Yield Strategies Fund in the fourth quarter worth $38,000. Finally, Fermata Advisors LLC bought a new stake in BNY Mellon High Yield Strategies Fund in the second quarter worth $42,000. Institutional investors own 36.16% of the company’s stock.

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.