BNY Mellon High Yield Strategies Fund (NYSE:DHF) Shares Pass Above Fifty Day Moving Average – Should You Sell?

BNY Mellon High Yield Strategies Fund (NYSE:DHF) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.41 and traded as high as $2.43. BNY Mellon High Yield Strategies Fund shares last traded at $2.4250, with a volume of 288,525 shares traded.

BNY Mellon High Yield Strategies Fund Stock Performance

The stock’s 50 day moving average price is $2.41 and its two-hundred day moving average price is $2.48.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th will be given a dividend of $0.0175 per share. This represents a c) annualized dividend and a yield of 8.7%. The ex-dividend date is Thursday, May 7th.

Institutional Investors Weigh In On BNY Mellon High Yield Strategies Fund

A number of hedge funds and other institutional investors have recently modified their holdings of DHF. Bulldog Investors LLP acquired a new stake in shares of BNY Mellon High Yield Strategies Fund in the 1st quarter worth approximately $700,000. World Investment Advisors acquired a new position in BNY Mellon High Yield Strategies Fund during the fourth quarter worth $35,000. Sit Investment Associates Inc. boosted its position in BNY Mellon High Yield Strategies Fund by 1.4% during the fourth quarter. Sit Investment Associates Inc. now owns 3,543,326 shares of the investment management company’s stock worth $8,787,000 after purchasing an additional 47,342 shares in the last quarter. Rivernorth Capital Management LLC purchased a new stake in BNY Mellon High Yield Strategies Fund during the fourth quarter worth $796,000. Finally, Boothbay Fund Management LLC acquired a new stake in BNY Mellon High Yield Strategies Fund in the fourth quarter valued at $79,000. 36.16% of the stock is currently owned by institutional investors and hedge funds.

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.