BNY Mellon High Yield Strategies Fund (NYSE:DHF) Sees Large Decrease in Short Interest

BNY Mellon High Yield Strategies Fund (NYSE:DHF) was the target of a significant decrease in short interest during the month of February. As of February 13th, there was short interest totaling 109,150 shares, a decrease of 56.8% from the January 29th total of 252,752 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 449,863 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 449,863 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DHF. Pathstone Holdings LLC lifted its stake in 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 valued at $16,975,000 after buying an additional 1,162,574 shares in the last quarter. Advisors Asset Management Inc. acquired a new position in shares of BNY Mellon High Yield Strategies Fund in the 3rd quarter valued at about $1,706,000. Rivernorth Capital Management LLC purchased a new stake in BNY Mellon High Yield Strategies Fund in the 4th quarter worth approximately $796,000. Wolverine Asset Management LLC acquired a new stake in shares of BNY Mellon High Yield Strategies Fund during the 4th quarter valued at $607,000. Finally, Capital Investment Advisors LLC increased its stake in shares of BNY Mellon High Yield Strategies Fund by 1,574.1% in the fourth quarter. Capital Investment Advisors LLC now owns 206,832 shares of the investment management company’s stock worth $513,000 after acquiring an additional 194,477 shares during the last quarter. Institutional investors own 36.16% of the company’s stock.

BNY Mellon High Yield Strategies Fund Trading Down 1.0%

NYSE:DHF traded down $0.03 during trading hours on Friday, reaching $2.49. The company had a trading volume of 341,823 shares, compared to its average volume of 447,909. The business’s 50 day moving average price is $2.52 and its 200-day moving average price is $2.55. BNY Mellon High Yield Strategies Fund has a 1-year low of $2.21 and a 1-year high of $2.63.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 10th will be given a $0.0175 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a c) dividend on an annualized basis and a dividend yield of 8.5%.

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.