BNY Mellon High Yield Strategies Fund (NYSE:DHF) Short Interest Update
by Scott Moore · The Cerbat GemBNY Mellon High Yield Strategies Fund (NYSE:DHF – Get Free Report) was the target of a significant drop in short interest during the month of April. As of April 30th, there was short interest totaling 26,060 shares, a drop of 64.3% from the April 15th total of 73,088 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 286,812 shares, the short-interest ratio is presently 0.1 days.
BNY Mellon High Yield Strategies Fund Stock Performance
Shares of DHF traded down $0.01 during mid-day trading on Friday, reaching $2.41. 129,788 shares of the company’s stock were exchanged, compared to its average volume of 348,094. The business’s fifty day simple moving average is $2.40 and its 200-day simple moving average is $2.48. BNY Mellon High Yield Strategies Fund has a 52-week low of $2.33 and a 52-week high of $2.63.
BNY Mellon High Yield Strategies Fund Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th will be given a dividend of $0.0175 per share. The ex-dividend date is Thursday, May 7th. This represents a c) dividend on an annualized basis and a dividend yield of 8.7%.
Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund
A number of hedge funds have recently modified their holdings of DHF. Pathstone Holdings LLC grew its position in shares of BNY Mellon High Yield Strategies Fund by 21.6% during the third quarter. Pathstone Holdings LLC now owns 6,553,950 shares of the investment management company’s stock worth $16,975,000 after acquiring an additional 1,162,574 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in shares of BNY Mellon High Yield Strategies Fund during the third quarter worth approximately $1,706,000. Rivernorth Capital Management LLC purchased a new position in BNY Mellon High Yield Strategies Fund in the 4th quarter valued at $796,000. Bulldog Investors LLP purchased a new position in BNY Mellon High Yield Strategies Fund in the 1st quarter valued at $700,000. Finally, Wolverine Asset Management LLC purchased a new position in BNY Mellon High Yield Strategies Fund in the 4th quarter valued at $607,000. 36.16% of the stock is currently 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.