BNY Mellon High Yield Strategies Fund (NYSE:DHF - Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 100,400 shares, a growth of 35.7% from the March 15th total of 74,000 shares. Based on an average daily trading volume, of 317,700 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the shares of the stock are sold short.
BNY Mellon High Yield Strategies Fund Price Performance
DHF stock traded up $0.06 during midday trading on Wednesday, reaching $2.44. The company had a trading volume of 48,166 shares, compared to its average volume of 333,452. BNY Mellon High Yield Strategies Fund has a 1 year low of $2.21 and a 1 year high of $2.69. The firm has a 50-day moving average price of $2.50 and a 200-day moving average price of $2.57.
BNY Mellon High Yield Strategies Fund Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Thursday, April 24th. Investors of record on Wednesday, April 9th will be issued a dividend of $0.0175 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $0.21 dividend on an annualized basis and a yield of 8.61%.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Focus Partners Wealth purchased a new stake in BNY Mellon High Yield Strategies Fund during the 4th quarter valued at about $28,000. Pathstone Holdings LLC boosted its holdings in shares of BNY Mellon High Yield Strategies Fund by 1.9% during the 4th quarter. Pathstone Holdings LLC now owns 5,667,317 shares of the investment management company's stock valued at $14,457,000 after purchasing an additional 105,809 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in BNY Mellon High Yield Strategies Fund by 1.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 439,598 shares of the investment management company's stock worth $1,121,000 after purchasing an additional 6,210 shares during the last quarter. LPL Financial LLC grew its stake in BNY Mellon High Yield Strategies Fund by 30.0% in the fourth quarter. LPL Financial LLC now owns 339,504 shares of the investment management company's stock worth $866,000 after purchasing an additional 78,294 shares in the last quarter. Finally, Shaker Financial Services LLC purchased a new stake in shares of BNY Mellon High Yield Strategies Fund in the 4th quarter worth $248,000. 36.16% of the stock is currently owned by institutional investors.
About BNY Mellon High Yield Strategies Fund
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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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