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

Key Points

• BNY Mellon High Yield Strategies Fund's share price recently exceeded its 50-day moving average of $2.58, reaching $2.60 during trading with a volume of 165,518 shares.
• The fund announced a monthly dividend of $0.0175 per share, set to be paid on September 24th, which equates to an annualized yield of 8.1%.
• Institutional investors, including Wolverine Asset Management and Invesco, have significantly increased their stakes in the fund, with hedge funds owning 36.16% of the company’s stock.

Shares of BNY Mellon High Yield Strategies Fund (NYSE:DHF - Get Free Report) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $2.58 and traded as high as $2.60. BNY Mellon High Yield Strategies Fund shares last traded at $2.60, with a volume of 165,518 shares traded.

BNY Mellon High Yield Strategies Fund Stock Performance

The stock's 50-day moving average price is $2.58 and its 200-day moving average price is $2.53.

BNY Mellon High Yield Strategies Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.0175 per share. The ex-dividend date is Wednesday, September 10th. This represents a c) annualized dividend and a dividend yield of 8.0%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its holdings in shares of 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 worth $26,000 after acquiring an additional 8,337 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in BNY Mellon High Yield Strategies Fund in the second quarter worth $26,000. Focus Partners Wealth bought a new stake in BNY Mellon High Yield Strategies Fund in the fourth quarter worth $28,000. J.W. Cole Advisors Inc. bought a new stake in BNY Mellon High Yield Strategies Fund in the second quarter worth $31,000. Finally, CW Advisors LLC bought a new stake in BNY Mellon High Yield Strategies Fund in the first quarter worth $33,000. 36.16% of the stock is owned by institutional investors.

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.