BNY Mellon High Yield Strategies Fund (NYSE:DHF) Stock Passes Below Fifty Day Moving Average - Here's What Happened

Key Points

• BNY Mellon High Yield Strategies Fund's stock price has recently fallen below its 50-day moving average of $2.59, trading as low as $2.56 with a slight decline of 0.4%.
• The fund has announced a dividend of $0.0175 per share, to be paid on October 23, representing an enormous yield of 811.0% for shareholders of record.
• Institutional investors collectively hold 36.16% of the fund's stock, with significant increases in positions noted during the recent quarters from various large investment firms.

BNY Mellon High Yield Strategies Fund (NYSE:DHF - ) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $2.59 and traded as low as $2.56. BNY Mellon High Yield Strategies Fund shares last traded at $2.56, with a volume of 214,134 shares traded.

BNY Mellon High Yield Strategies Fund Trading Down 0.4%

The company's 50-day moving average is $2.59 and its 200-day moving average is $2.53.

BNY Mellon High Yield Strategies Fund Announces Dividend

The firm also recently announced a sep 25 dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th will be given a dividend of $0.0175 per share. The ex-dividend date is Wednesday, October 8th. This represents a yield of 811.0%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Integrated Capital Management Inc. lifted its position in BNY Mellon High Yield Strategies Fund by 7.5% during the 2nd quarter. Integrated Capital Management Inc. now owns 80,580 shares of the investment management company's stock valued at $210,000 after purchasing an additional 5,593 shares during the period. Advance Capital Management Inc. bought a new position in shares of BNY Mellon High Yield Strategies Fund during the 2nd quarter worth approximately $78,000. Walleye Capital LLC acquired a new position in BNY Mellon High Yield Strategies Fund during the first quarter worth $37,000. 1607 Capital Partners LLC boosted its holdings in BNY Mellon High Yield Strategies Fund by 22.9% during the first quarter. 1607 Capital Partners LLC now owns 877,462 shares of the investment management company's stock worth $2,238,000 after purchasing an additional 163,749 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in BNY Mellon High Yield Strategies Fund by 2.0% during the first quarter. Invesco Ltd. now owns 899,994 shares of the investment management company's stock worth $2,295,000 after purchasing an additional 17,795 shares during the last quarter. 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.

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