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

BNY Mellon High Yield Strategies Fund (NYSE:DHF) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 39,442 shares, a decline of 57.9% from the August 15th total of 93,580 shares. Based on an average trading volume of 411,620 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the company’s shares are sold short.

BNY Mellon High Yield Strategies Fund Price Performance

Shares of NYSE:DHF traded up $0.01 during trading on Tuesday, hitting $2.27. The company had a trading volume of 285,168 shares, compared to its average volume of 310,024. BNY Mellon High Yield Strategies Fund has a one year low of $2.27 and a one year high of $2.63. The company has a fifty day simple moving average of $2.37 and a two-hundred day simple moving average of $2.40.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be issued a dividend of $0.0175 per share. This represents a c) annualized dividend and a yield of 9.2%. The ex-dividend date is Thursday, September 10th.

Institutional Trading of BNY Mellon High Yield Strategies Fund

Institutional investors have recently bought and sold shares of the stock. Sit Investment Associates Inc. increased its position in BNY Mellon High Yield Strategies Fund by 1.4% during the fourth quarter. Sit Investment Associates Inc. now owns 3,543,326 shares of the investment management company’s stock valued at $8,787,000 after acquiring an additional 47,342 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of BNY Mellon High Yield Strategies Fund by 17.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 1,872,844 shares of the investment management company’s stock valued at $4,532,000 after acquiring an additional 275,168 shares during the period. Fiera Capital Corp lifted its holdings in shares of BNY Mellon High Yield Strategies Fund by 43.9% in the 4th quarter. Fiera Capital Corp now owns 494,528 shares of the investment management company’s stock worth $1,226,000 after acquiring an additional 150,848 shares during the last quarter. Rivernorth Capital Management LLC lifted its holdings in shares of BNY Mellon High Yield Strategies Fund by 14.3% in the 1st quarter. Rivernorth Capital Management LLC now owns 366,828 shares of the investment management company’s stock worth $895,000 after acquiring an additional 45,764 shares during the last quarter. Finally, Bulldog Investors LLP purchased a new position in shares of BNY Mellon High Yield Strategies Fund during the 1st quarter worth about $700,000. 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 closed-end investment fund that seeks to provide investors with a high level of current income and, secondarily, capital appreciation. The fund is managed by BNY Mellon Investment Adviser, LLC, and invests primarily in high-yield, below-investment-grade debt securities.

The fund’s portfolio may include corporate bonds, notes, loans and other fixed-income instruments issued by companies across a range of industries. These securities generally offer higher income potential than investment-grade debt but also carry greater credit and default risk.