BNY Mellon High Yield Strategies Fund (NYSE:DHF) Stock Price Crosses Below Fifty Day Moving Average - Here's What Happened

Key Points

• The BNY Mellon High Yield Strategies Fund (NYSE:DHF) stock price fell below its 50-day moving average of $2.56, trading at $2.58 with 851,500 shares exchanging hands.
• The fund announced a monthly dividend of $0.0175, scheduled for payment on August 20th, representing a dividend yield of 8.1%.
• Institutional investors currently hold 36.16% of the company's stock, with several firms recently modifying their holdings in the fund.

Shares of BNY Mellon High Yield Strategies Fund (NYSE:DHF - Get Free Report) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $2.56 and traded as low as $2.56. BNY Mellon High Yield Strategies Fund shares last traded at $2.58, with a volume of 851,500 shares changing hands.

BNY Mellon High Yield Strategies Fund Price Performance

The stock has a 50-day moving average price of $2.56 and a 200 day moving average price of $2.53.

BNY Mellon High Yield Strategies Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th will be issued a $0.0175 dividend. This represents a c) annualized dividend and a dividend yield of 8.2%. The ex-dividend date is Wednesday, August 6th.

Institutional Investors Weigh In On BNY Mellon High Yield Strategies Fund

Several large investors have recently bought and sold shares of DHF. Pathstone Holdings LLC raised its holdings in 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 last quarter. Sit Investment Associates Inc. lifted its stake 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 in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of BNY Mellon High Yield Strategies Fund by 21.2% in 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 acquiring an additional 186,058 shares in the last quarter. Invesco Ltd. increased its holdings in BNY Mellon High Yield Strategies Fund by 2.0% in the first quarter. Invesco Ltd. now owns 899,994 shares of the investment management company's stock valued at $2,295,000 after buying an additional 17,795 shares during the last quarter. Finally, 1607 Capital Partners LLC increased its holdings in BNY Mellon High Yield Strategies Fund by 22.9% in the first quarter. 1607 Capital Partners LLC now owns 877,462 shares of the investment management company's stock valued at $2,238,000 after buying an additional 163,749 shares during the last quarter. Hedge funds and other institutional investors own 36.16% of the company's stock.

BNY Mellon High Yield Strategies Fund Company Profile

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.