BNY Mellon High Yield Strategies Fund (NYSE:DHF) Stock Crosses Above 50 Day Moving Average - Should You Sell?

Key Points

• Shares crossed above the 50‑day moving average, trading as high as $2.46 and last at $2.4250, though the stock remains below its 200‑day MA of $2.49.
• The fund declared a monthly dividend of $0.0175 (ex‑dividend and record date May 7, pay date May 21), which annualizes to an approximately 8.7% yield.
• Institutions own about 36.16% of the fund, with several managers increasing stakes recently—most notably Pathstone Holdings, which boosted its position by 21.6% to 6.55 million shares.

Shares of BNY Mellon High Yield Strategies Fund (NYSE:DHF - Get Free Report) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $2.42 and traded as high as $2.46. BNY Mellon High Yield Strategies Fund shares last traded at $2.4250, with a volume of 588,985 shares changing hands.

BNY Mellon High Yield Strategies Fund Price Performance

The company's 50-day simple moving average is $2.42 and its 200 day simple moving average is $2.49.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th will be given a $0.0175 dividend. This represents a c) annualized dividend and a yield of 8.7%. The ex-dividend date of this dividend is Thursday, May 7th.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pathstone Holdings LLC boosted its position in BNY Mellon High Yield Strategies Fund by 21.6% in the 3rd quarter. Pathstone Holdings LLC now owns 6,553,950 shares of the investment management company's stock valued at $16,975,000 after buying an additional 1,162,574 shares during the period. Sit Investment Associates Inc. boosted its position in BNY Mellon High Yield Strategies Fund by 1.4% in the 4th quarter. Sit Investment Associates Inc. now owns 3,543,326 shares of the investment management company's stock valued at $8,787,000 after buying an additional 47,342 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in BNY Mellon High Yield Strategies Fund by 5.8% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,485,373 shares of the investment management company's stock valued at $3,684,000 after buying an additional 81,825 shares during the period. Advisors Asset Management Inc. lifted its position in shares of BNY Mellon High Yield Strategies Fund by 74.4% during the 4th quarter. Advisors Asset Management Inc. now owns 1,148,316 shares of the investment management company's stock worth $2,848,000 after purchasing an additional 489,761 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of BNY Mellon High Yield Strategies Fund by 12.1% during the 2nd quarter. Invesco Ltd. now owns 1,009,240 shares of the investment management company's stock worth $2,624,000 after purchasing an additional 109,246 shares during 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 NYSE: DHF is a diversified, closed-end management investment company that seeks to provide a high level of current income by primarily investing in below-investment-grade corporate debt securities. The fund allocates its portfolio across a broad range of industries and issuers, with an emphasis on high-yield bonds of U.S. companies, and may employ leverage to enhance income potential. It also maintains flexibility to invest in other fixed-income securities, including senior loans, preferred securities and selective investment-grade corporate debt.

Launched in 2011 and sponsored by The Bank of New York Mellon Corporation, the fund is managed by the global fixed-income team at Mellon Investments Corporation, a subsidiary of BNY Mellon.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.