BNY Mellon High Yield Strategies Fund (NYSE:DHF) Shares Cross Above 50 Day Moving Average – Time to Sell?

BNY Mellon High Yield Strategies Fund (NYSE:DHF) crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $2.26 and traded as high as $2.28. BNY Mellon High Yield Strategies Fund shares last traded at $2.2750, with a volume of 1,065,326 shares.

BNY Mellon High Yield Strategies Fund Trading Up 1.1%

The company’s 50-day moving average price is $2.26 and its 200 day moving average price is $2.38.

BNY Mellon High Yield Strategies Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 20th. Shareholders of record on Thursday, November 5th will be paid a dividend of $0.0175 per share. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $0.21 annualized dividend and a yield of 9.2%.

Insider Transactions at BNY Mellon High Yield Strategies Fund

In other BNY Mellon High Yield Strategies Fund news, Director Joseph S. Dimartino bought 20,000 shares of BNY Mellon High Yield Strategies Fund stock in a transaction on Thursday, September 24th. The shares were bought at an average price of $2.22 per share, for a total transaction of $44,400.00. Following the completion of the transaction, the director directly owned 240,000 shares of the company’s stock, valued at $532,800. This trade represents a 9.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 16.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

Large investors have recently modified their holdings of the business. Fermata Advisors LLC purchased a new position in shares of BNY Mellon High Yield Strategies Fund during the 2nd quarter worth $42,000. Curated Wealth Partners LLC acquired a new stake in shares of BNY Mellon High Yield Strategies Fund during the 3rd quarter worth about $47,000. M Holdings Securities Inc. purchased a new stake in BNY Mellon High Yield Strategies Fund in the 3rd quarter valued at about $54,000. Capital Investment Advisors LLC raised its holdings in BNY Mellon High Yield Strategies Fund by 13.0% in the 3rd quarter. Capital Investment Advisors LLC now owns 225,755 shares of the investment management company’s stock valued at $501,000 after buying an additional 25,995 shares during the period. Finally, Rivernorth Capital Management LLC raised its holdings in 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 valued at $895,000 after buying an additional 45,764 shares during the period. 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 is a closed-end investment fund listed on the New York Stock Exchange under the symbol DHF. The fund seeks to provide investors with a high level of current income and, to a lesser extent, capital appreciation.

The fund invests primarily in high-yield, below-investment-grade debt securities, commonly known as “junk bonds,” issued by corporations and other organizations. Its portfolio may include bonds and other fixed-income instruments with varying maturities, credit qualities and structures.