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

Key Points

• BNY Mellon High Yield Strategies Fund's stock price recently crossed above its 50-day moving average of $2.57, reaching a high of $2.57 during trading.
• The fund declared a monthly dividend of $0.0175 per share, reflecting an annualized dividend yield of 8.2%.
• Hedge funds and institutional investors have significantly modified their holdings, with notable increases in stakes from firms such as Geneos Wealth Management Inc. and Newbridge Financial Services Group Inc.

BNY Mellon High Yield Strategies Fund (NYSE:DHF - Get Free Report) shares crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $2.57 and traded as high as $2.57. BNY Mellon High Yield Strategies Fund shares last traded at $2.56, with a volume of 1,095,579 shares traded.

BNY Mellon High Yield Strategies Fund Stock Performance

The stock has a 50 day simple moving average of $2.57 and a two-hundred day simple moving average of $2.52.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th will be issued a dividend of $0.0175 per share. This represents a c) annualized dividend and a dividend yield of 8.2%. The ex-dividend date is Wednesday, September 10th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Carter Financial Group INC. purchased a new position in BNY Mellon High Yield Strategies Fund in the second quarter valued at $50,000. Newbridge Financial Services Group Inc. acquired a new stake in BNY Mellon High Yield Strategies Fund in the second quarter valued at about $26,000. Bank of America Corp DE lifted its position in BNY Mellon High Yield Strategies Fund by 49.9% in the second quarter. Bank of America Corp DE now owns 48,902 shares of the investment management company's stock valued at $127,000 after purchasing an additional 16,277 shares during the period. Jane Street Group LLC acquired a new stake in BNY Mellon High Yield Strategies Fund in the second quarter valued at about $163,000. Finally, Walleye Capital LLC lifted its position in BNY Mellon High Yield Strategies Fund by 273.3% in the second quarter. Walleye Capital LLC now owns 54,533 shares of the investment management company's stock valued at $142,000 after purchasing an additional 39,926 shares during the period. 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.