BNY Mellon High Yield Strategies Fund (NYSE:DHF) Stock Short Interest Drops 73.8%

BNY Mellon High Yield Strategies Fund (NYSE:DHF) saw a significant decline in short interest in the month of October. As of October 30th, there was short interest totaling 44,955 shares, a decline of 73.8% from the October 15th total of 171,819 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 305,295 shares, the short-interest ratio is currently 0.1 days.

Insider Buying and Selling

In other BNY Mellon High Yield Strategies Fund news, Director Joseph S. Dimartino purchased 20,000 shares of the stock in a transaction on Thursday, September 24th. The shares were bought at an average cost of $2.22 per share, with a total value of $44,400.00. Following the completion of the acquisition, the director owned 240,000 shares in the company, valued at $532,800. This trade represents a 9.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 16.61% of the company’s stock.

Institutional Trading of BNY Mellon High Yield Strategies Fund

Hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. acquired a new stake in BNY Mellon High Yield Strategies Fund during the third quarter worth about $1,631,000. Allspring Global Investments Holdings LLC raised its position in BNY Mellon High Yield Strategies Fund by 19.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,176,083 shares of the investment management company’s stock valued at $2,611,000 after acquiring an additional 192,113 shares in the last quarter. M Holdings Securities Inc. acquired a new position in BNY Mellon High Yield Strategies Fund in the third quarter valued at approximately $54,000. Calamos Advisors LLC acquired a new position in BNY Mellon High Yield Strategies Fund in the third quarter valued at approximately $165,000. Finally, Capital Investment Advisors LLC lifted its holdings in BNY Mellon High Yield Strategies Fund by 13.0% in the third quarter. Capital Investment Advisors LLC now owns 225,755 shares of the investment management company’s stock valued at $501,000 after acquiring an additional 25,995 shares during the period. Hedge funds and other institutional investors own 36.16% of the company’s stock.

BNY Mellon High Yield Strategies Fund Stock Down 0.7%

Shares of DHF opened at $2.23 on Thursday. The business’s 50-day moving average is $2.25 and its two-hundred day moving average is $2.38. BNY Mellon High Yield Strategies Fund has a fifty-two week low of $2.12 and a fifty-two week high of $2.57.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, November 20th. Stockholders of record on Thursday, November 5th will be paid a $0.0175 dividend. The ex-dividend date is Thursday, November 5th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 9.4%.

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.