BNY Mellon High Yield Strategies Fund (NYSE:DHF) Stock Price Crosses Below 200-Day Moving Average - Should You Sell?

Key Points

• Shares crossed below its 200-day moving average, with the 200-day MA at $2.50 and the stock trading as low as $2.45 and last at $2.4650 on volume of 85,441.
• The fund declared a monthly dividend of $0.0175 per share (ex‑dividend/record date Apr 8, payable Apr 22), implying an annualized yield of about 8.5%.
• BNY Mellon High Yield Strategies Fund is a closed‑end vehicle that primarily invests in below‑investment‑grade corporate debt and may use leverage, and institutional investors own roughly 36.16% of the fund.

Shares of BNY Mellon High Yield Strategies Fund (NYSE:DHF - Get Free Report) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.50 and traded as low as $2.45. BNY Mellon High Yield Strategies Fund shares last traded at $2.4650, with a volume of 85,441 shares.

BNY Mellon High Yield Strategies Fund Price Performance

The stock's 50 day simple moving average is $2.43 and its two-hundred day simple moving average is $2.50.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th will be given a dividend of $0.0175 per share. The ex-dividend date of this dividend is Wednesday, April 8th. This represents a c) annualized dividend and a dividend yield of 8.5%.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. World Investment Advisors bought a new stake in shares of BNY Mellon High Yield Strategies Fund during the 4th quarter valued at $35,000. Sit Investment Associates Inc. lifted its stake 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 purchasing an additional 47,342 shares during the last quarter. Rivernorth Capital Management LLC bought a new position in BNY Mellon High Yield Strategies Fund in the 4th quarter valued at approximately $796,000. Boothbay Fund Management LLC bought a new position in BNY Mellon High Yield Strategies Fund in the 4th quarter valued at approximately $79,000. Finally, Cetera Investment Advisers raised its holdings in BNY Mellon High Yield Strategies Fund by 12.1% in the 4th quarter. Cetera Investment Advisers now owns 224,102 shares of the investment management company's stock valued at $556,000 after buying an additional 24,256 shares during the last quarter. Institutional investors own 36.16% of the company's stock.

BNY Mellon High Yield Strategies Fund Company Profile

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.

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