BNY Mellon High Yield Strategies Fund (NYSE:DHF) Share 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.

BNY Mellon High Yield Strategies Fund (NYSE:DHF - )'s stock price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty 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 trading hands.

BNY Mellon High Yield Strategies Fund Price Performance

The stock's 50-day simple moving average is $2.56 and its 200 day simple moving average is $2.53.

BNY Mellon High Yield Strategies Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Wednesday, August 6th will be issued a $0.0175 dividend. The ex-dividend date is Wednesday, August 6th. This represents a c) dividend on an annualized basis and a dividend yield of 8.1%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Cetera Investment Advisers boosted its stake in BNY Mellon High Yield Strategies Fund by 2.4% during the 1st quarter. Cetera Investment Advisers now owns 186,398 shares of the investment management company's stock worth $475,000 after purchasing an additional 4,283 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of BNY Mellon High Yield Strategies Fund by 1.2% in the second quarter. Envestnet Asset Management Inc. now owns 443,701 shares of the investment management company's stock valued at $1,154,000 after buying an additional 5,309 shares during the last quarter. Integrated Capital Management Inc. boosted its stake in shares of BNY Mellon High Yield Strategies Fund by 7.5% during the second quarter. Integrated Capital Management Inc. now owns 80,580 shares of the investment management company's stock worth $210,000 after buying an additional 5,593 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of BNY Mellon High Yield Strategies Fund by 493.9% during the first quarter. Geneos Wealth Management Inc. now owns 10,025 shares of the investment management company's stock worth $26,000 after buying an additional 8,337 shares during the last quarter. Finally, Focus Partners Wealth acquired a new position in BNY Mellon High Yield Strategies Fund in the 4th quarter valued at about $28,000. Institutional investors and hedge funds 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.

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