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

BNY Mellon High Yield Strategies Fund (NYSE:DHF - Get Free Report) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $2.45 and traded as high as $2.52. BNY Mellon High Yield Strategies Fund shares last traded at $2.52, with a volume of 940,794 shares changing hands.

BNY Mellon High Yield Strategies Fund Trading Down 0.2%

The firm has a fifty day simple moving average of $2.45 and a two-hundred day simple moving average of $2.54.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 6th will be issued a dividend of $0.0175 per share. This represents a $0.21 annualized dividend and a yield of 8.35%. The ex-dividend date is Friday, June 6th.

Institutional Investors Weigh In On BNY Mellon High Yield Strategies Fund

Several institutional investors have recently made changes to their positions in DHF. J.W. Cole Advisors Inc. purchased a new stake in shares of BNY Mellon High Yield Strategies Fund during the fourth quarter worth $30,000. Truist Financial Corp purchased a new stake in shares of BNY Mellon High Yield Strategies Fund during the fourth quarter worth $168,000. LPL Financial LLC lifted its position in shares of BNY Mellon High Yield Strategies Fund by 30.0% during the fourth quarter. LPL Financial LLC now owns 339,504 shares of the investment management company's stock worth $866,000 after acquiring an additional 78,294 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of BNY Mellon High Yield Strategies Fund by 1.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 439,598 shares of the investment management company's stock worth $1,121,000 after acquiring an additional 6,210 shares in the last quarter. Finally, 1607 Capital Partners LLC lifted its position in shares of BNY Mellon High Yield Strategies Fund by 84.7% during the fourth quarter. 1607 Capital Partners LLC now owns 713,713 shares of the investment management company's stock worth $1,820,000 after acquiring an additional 327,361 shares in the last quarter. Hedge funds and other 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.