BNY Mellon High Yield Strategies Fund (NYSE:DHF) Shares Pass Above Fifty Day Moving Average - What's Next?

Key Points

• BNY Mellon High Yield Strategies Fund (NYSE:DHF) shares have recently exceeded their fifty-day moving average, reaching a high of $2.59 before settling at $2.57.
• The fund has announced a monthly dividend of $0.0175, scheduled for payment on August 20th, which reflects an annualized yield of 8.2%.
• Several institutional investors have significantly increased their positions in the fund, with Geneos Wealth Management increasing its holdings by 493.9% in the first quarter.

BNY Mellon High Yield Strategies Fund (NYSE:DHF - Get Free Report)'s stock price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $2.56 and traded as high as $2.59. BNY Mellon High Yield Strategies Fund shares last traded at $2.57, with a volume of 749,769 shares trading hands.

BNY Mellon High Yield Strategies Fund Stock Down 0.6%

The firm's 50 day simple moving average is $2.57 and its 200 day simple moving average is $2.53.

BNY Mellon High Yield Strategies Fund Dividend Announcement

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

Institutional Trading of BNY Mellon High Yield Strategies Fund

Several large investors have recently added to or reduced their stakes in DHF. Newbridge Financial Services Group Inc. acquired a new position in shares of BNY Mellon High Yield Strategies Fund during the second quarter valued at $26,000. Geneos Wealth Management Inc. increased its stake in BNY Mellon High Yield Strategies Fund by 493.9% during 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 period. Focus Partners Wealth acquired a new position in BNY Mellon High Yield Strategies Fund during the 4th quarter valued at about $28,000. J.W. Cole Advisors Inc. acquired a new position in BNY Mellon High Yield Strategies Fund during the 2nd quarter valued at about $31,000. Finally, CW Advisors LLC acquired a new position in BNY Mellon High Yield Strategies Fund during the 1st quarter valued at about $33,000. 36.16% of the stock is currently owned by institutional investors and hedge funds.

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.