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

Key Points

• BNY Mellon High Yield Strategies Fund (DHF) slipped below its 50‑day moving average, trading as low as $2.35 and last at $2.3750 versus a 50‑day MA of $2.51 (200‑day MA $2.54).
• The fund declared a monthly dividend of $0.0175 per share payable April 1 with an ex‑dividend/record date of March 10, implying an annualized dividend yield of about 8.8%.
• Institutional ownership is significant at 36.16%, and several managers recently increased positions (notably Invesco raised its stake to 1,009,240 shares and Geneos Wealth Management boosted its holding by 493.9%).

BNY Mellon High Yield Strategies Fund (NYSE:DHF - Get Free Report) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $2.51 and traded as low as $2.35. BNY Mellon High Yield Strategies Fund shares last traded at $2.3750, with a volume of 369,524 shares traded.

BNY Mellon High Yield Strategies Fund Price Performance

The business's 50 day moving average is $2.51 and its 200-day moving average is $2.54.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 10th will be paid a $0.0175 dividend. The ex-dividend date is Tuesday, March 10th. This represents a c) annualized dividend and a dividend yield of 8.8%.

Institutional Trading of BNY Mellon High Yield Strategies Fund

Several institutional investors and hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. boosted its stake in BNY Mellon High Yield Strategies Fund by 493.9% in the first quarter. Geneos Wealth Management Inc. now owns 10,025 shares of the investment management company's stock valued at $26,000 after buying an additional 8,337 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of BNY Mellon High Yield Strategies Fund by 1.2% in the second quarter. Envestnet Asset Management Inc. now owns 443,701 shares of the investment management company's stock worth $1,154,000 after acquiring an additional 5,309 shares during the last quarter. J.W. Cole Advisors Inc. bought a new position in shares of BNY Mellon High Yield Strategies Fund in the second quarter worth about $31,000. Invesco Ltd. boosted its stake in shares of BNY Mellon High Yield Strategies Fund by 12.1% in the 2nd quarter. Invesco Ltd. now owns 1,009,240 shares of the investment management company's stock valued at $2,624,000 after purchasing an additional 109,246 shares in the last quarter. Finally, Walleye Capital LLC grew its holdings in shares of BNY Mellon High Yield Strategies Fund by 273.3% during the 2nd 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 last quarter. 36.16% of the stock is currently owned by institutional investors.

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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