BNY Mellon High Yield Strategies Fund (NYSE:DHF) Shares Cross Above 50 Day Moving Average – What’s Next?

BNY Mellon High Yield Strategies Fund (NYSE:DHF)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $2.51 and traded as high as $2.56. BNY Mellon High Yield Strategies Fund shares last traded at $2.5350, with a volume of 204,532 shares traded.

BNY Mellon High Yield Strategies Fund Price Performance

The firm’s 50-day moving average is $2.51 and its 200-day moving average is $2.55.

BNY Mellon High Yield Strategies Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 20th. Stockholders of record on Thursday, February 5th will be given a dividend of $0.0175 per share. The ex-dividend date of this dividend is Thursday, February 5th. This represents a c) annualized dividend and a dividend yield of 8.3%.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

A number of hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. increased its holdings in 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 worth $26,000 after purchasing an additional 8,337 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of BNY Mellon High Yield Strategies Fund by 1.2% during the second quarter. Envestnet Asset Management Inc. now owns 443,701 shares of the investment management company’s stock valued at $1,154,000 after buying an additional 5,309 shares during the last quarter. Wolverine Asset Management LLC grew its holdings in BNY Mellon High Yield Strategies Fund by 786.4% during the second quarter. Wolverine Asset Management LLC now owns 267,959 shares of the investment management company’s stock worth $697,000 after buying an additional 237,730 shares in the last quarter. Shaker Financial Services LLC grew its holdings in BNY Mellon High Yield Strategies Fund by 31.0% during the second quarter. Shaker Financial Services LLC now owns 297,741 shares of the investment management company’s stock worth $774,000 after buying an additional 70,506 shares in the last quarter. Finally, J.W. Cole Advisors Inc. purchased a new stake in BNY Mellon High Yield Strategies Fund in the 2nd quarter valued at $31,000. Institutional investors and hedge funds 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.