BNY Mellon High Yield Strategies Fund (NYSE:DHF) Stock Price Crosses Below 50 Day Moving Average - What's Next?

Key Points

• BNY Mellon High Yield Strategies Fund (NYSE:DHF) fell below its 50-day moving average on Friday, with shares trading as low as $2.39 and last changing hands at $2.4050.
• The fund recently declared a monthly dividend of $0.0175 per share, payable July 23 to shareholders of record on July 9, implying an annualized yield of about 8.7%.
• Institutional ownership remains notable, with hedge funds and other investors adjusting positions; institutional investors hold 36.16% of the fund’s shares.

BNY Mellon High Yield Strategies Fund (NYSE:DHF - Get Free Report)'s stock price crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $2.42 and traded as low as $2.39. BNY Mellon High Yield Strategies Fund shares last traded at $2.4050, with a volume of 458,353 shares trading hands.

BNY Mellon High Yield Strategies Fund Trading Up 0.2%

The stock has a 50-day moving average price of $2.42 and a 200-day moving average price of $2.45.

BNY Mellon High Yield Strategies Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Thursday, July 9th will be given a dividend of $0.0175 per share. The ex-dividend date is Thursday, July 9th. This represents a c) dividend on an annualized basis and a yield of 8.7%.

Institutional Investors Weigh In On BNY Mellon High Yield Strategies Fund

Several hedge funds have recently added to or reduced their stakes in DHF. Pathstone Holdings LLC increased its position in shares of BNY Mellon High Yield Strategies Fund by 21.6% during 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 purchasing an additional 1,162,574 shares during the last quarter. Advisors Asset Management Inc. lifted its position in BNY Mellon High Yield Strategies Fund by 74.4% in 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 buying an additional 489,761 shares during the last quarter. Rivernorth Capital Management LLC purchased a new stake in BNY Mellon High Yield Strategies Fund in the fourth quarter worth approximately $796,000. Bulldog Investors LLP bought a new position in BNY Mellon High Yield Strategies Fund during the first quarter valued at approximately $700,000. Finally, Hennion & Walsh Asset Management Inc. grew its position in BNY Mellon High Yield Strategies Fund by 17.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 1,872,844 shares of the investment management company's stock valued at $4,532,000 after acquiring an additional 275,168 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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