BNY Mellon High Yield Strategies Fund (NYSE:DHF) Share Price Passes Above 50-Day Moving Average - What's Next?

BNY Mellon High Yield Strategies Fund (NYSE:DHF - Get Free Report) shares passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $2.46 and traded as high as $2.51. BNY Mellon High Yield Strategies Fund shares last traded at $2.48, with a volume of 267,712 shares traded.

BNY Mellon High Yield Strategies Fund Stock Up 1.0%

The stock has a 50 day moving average price of $2.46 and a 200 day moving average price of $2.54.

BNY Mellon High Yield Strategies Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 6th will be paid a $0.0175 dividend. This represents a $0.21 dividend on an annualized basis and a dividend yield of 8.42%. The ex-dividend date of this dividend is Friday, June 6th.

Institutional Trading of BNY Mellon High Yield Strategies Fund

A number of hedge funds and other institutional investors have recently modified their holdings of DHF. Pathstone Holdings LLC raised its position in shares of BNY Mellon High Yield Strategies Fund by 1.9% during the fourth quarter. Pathstone Holdings LLC now owns 5,667,317 shares of the investment management company's stock worth $14,457,000 after purchasing an additional 105,809 shares during the period. Sit Investment Associates Inc. raised its position in shares of BNY Mellon High Yield Strategies Fund by 3.9% during the first quarter. Sit Investment Associates Inc. now owns 2,561,219 shares of the investment management company's stock worth $6,531,000 after purchasing an additional 96,872 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in shares of BNY Mellon High Yield Strategies Fund by 21.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 1,065,191 shares of the investment management company's stock worth $2,716,000 after purchasing an additional 186,058 shares during the period. Invesco Ltd. raised its position in shares of BNY Mellon High Yield Strategies Fund by 2.0% during the first quarter. Invesco Ltd. now owns 899,994 shares of the investment management company's stock worth $2,295,000 after purchasing an additional 17,795 shares during the period. Finally, 1607 Capital Partners LLC raised its position in shares of BNY Mellon High Yield Strategies Fund by 22.9% during the first quarter. 1607 Capital Partners LLC now owns 877,462 shares of the investment management company's stock worth $2,238,000 after purchasing an additional 163,749 shares during the period. Institutional investors own 36.16% of the company's stock.

About BNY Mellon High Yield Strategies Fund

BNY Mellon High Yield Strategies Fund is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc The fund invests in the fixed income markets of the United States. It primarily invests in fixed income securities of below investment grade quality, including securities of companies at early stages of development and companies with a highly leveraged financial structure.