BNY Mellon High Yield Strategies Fund (NYSE:DHF) Shares Pass Below 200-Day Moving Average – Here’s Why

BNY Mellon High Yield Strategies Fund (NYSE:DHF)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.46 and traded as low as $2.40. BNY Mellon High Yield Strategies Fund shares last traded at $2.4050, with a volume of 252,286 shares traded.

BNY Mellon High Yield Strategies Fund Price Performance

The company has a 50-day moving average price of $2.43 and a two-hundred day moving average price of $2.46.

BNY Mellon High Yield Strategies Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be issued a $0.0175 dividend. This represents a c) dividend on an annualized basis and a yield of 8.7%. The ex-dividend date is Friday, June 5th.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

A number of institutional investors and hedge funds have recently modified their holdings of the business. Pathstone Holdings LLC increased its stake in shares of BNY Mellon High Yield Strategies Fund by 21.6% in the 3rd quarter. Pathstone Holdings LLC now owns 6,553,950 shares of the investment management company’s stock valued at $16,975,000 after acquiring an additional 1,162,574 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in BNY Mellon High Yield Strategies Fund by 74.4% during the fourth quarter. Advisors Asset Management Inc. now owns 1,148,316 shares of the investment management company’s stock worth $2,848,000 after acquiring an additional 489,761 shares in the last quarter. Rivernorth Capital Management LLC acquired a new stake in BNY Mellon High Yield Strategies Fund in the fourth quarter worth $796,000. Bulldog Investors LLP acquired a new stake in BNY Mellon High Yield Strategies Fund in the first quarter worth $700,000. Finally, Wolverine Asset Management LLC bought a new stake in BNY Mellon High Yield Strategies Fund in the fourth quarter valued at $607,000. 36.16% of the stock is currently owned by 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.