BNY Mellon High Yield Strategies Fund (NYSE:DHF) Share Price Passes Above Fifty Day Moving Average - Time to Sell?

Key Points

• BNY Mellon High Yield Strategies Fund (NYSE:DHF) has crossed above its fifty-day moving average, trading at $2.60, which may signal a potential buy or sell opportunity for investors.
• The fund announced a dividend of $0.0175 per share, set to be paid on October 23rd, reflecting a remarkable 806.0% dividend yield.
• Institutional investors have increased their stakes in the fund significantly, with Geneos Wealth Management growing its position by 493.9% in the first quarter.

BNY Mellon High Yield Strategies Fund (NYSE:DHF - ) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $2.59 and traded as high as $2.60. BNY Mellon High Yield Strategies Fund shares last traded at $2.59, with a volume of 356,405 shares traded.

BNY Mellon High Yield Strategies Fund Price Performance

The firm has a 50 day simple moving average of $2.59 and a 200-day simple moving average of $2.53.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The business also recently disclosed a sep 25 dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th will be issued a $0.0175 dividend. This represents a dividend yield of 806.0%. The ex-dividend date is Monday, September 8th.

Institutional Trading of BNY Mellon High Yield Strategies Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. grew its stake in BNY Mellon High Yield Strategies Fund by 493.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 10,025 shares of the investment management company's stock valued at $26,000 after buying an additional 8,337 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of BNY Mellon High Yield Strategies Fund in the second quarter valued at approximately $26,000. J.W. Cole Advisors Inc. bought a new position in shares of BNY Mellon High Yield Strategies Fund during the second quarter worth approximately $31,000. CW Advisors LLC acquired a new stake in BNY Mellon High Yield Strategies Fund during the 1st quarter worth approximately $33,000. Finally, Walleye Capital LLC acquired a new stake in BNY Mellon High Yield Strategies Fund during the 1st quarter worth approximately $37,000. 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.

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