Neuberger Berman High Yield Strategies Fund (NYSEAMERICAN:NHS) Shares Pass Below Two Hundred Day Moving Average - Here's Why

Key Points

• Shares of Neuberger Berman High Yield Strategies Fund (NYSEAMERICAN:NHS) traded below their 200-day moving average of $7.49, reaching a low of $7.38 during trading.
• The fund has declared a monthly dividend of $0.0905 per share, payable on October 31st, representing an impressive annualized yield of 14.5%.
• Institutional investors have shown increased interest, with Osaic Holdings Inc. growing its stake by 112.6% in the second quarter, reflecting a wider trend of institutional inflows.

Shares of Neuberger Berman High Yield Strategies Fund (NYSEAMERICAN:NHS - ) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.49 and traded as low as $7.38. Neuberger Berman High Yield Strategies Fund shares last traded at $7.47, with a volume of 229,862 shares trading hands.

Neuberger Berman High Yield Strategies Fund Trading Up 0.1%

The stock's fifty day moving average price is $7.50 and its 200-day moving average price is $7.49.

Neuberger Berman High Yield Strategies Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.0905 per share. The ex-dividend date is Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 14.5%.

Insider Buying and Selling

In related news, Portfolio Manager Chris Kocinski acquired 6,000 shares of the stock in a transaction that occurred on Thursday, July 17th. The shares were purchased at an average cost of $7.40 per share, with a total value of $44,400.00. Following the completion of the transaction, the portfolio manager owned 21,000 shares of the company's stock, valued at approximately $155,400. This trade represents a 40.00% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. grew its position in Neuberger Berman High Yield Strategies Fund by 112.6% during the second quarter. Osaic Holdings Inc. now owns 30,819 shares of the investment management company's stock valued at $234,000 after purchasing an additional 16,324 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Neuberger Berman High Yield Strategies Fund in the second quarter worth approximately $338,000. StoneX Group Inc. bought a new stake in Neuberger Berman High Yield Strategies Fund in the second quarter worth approximately $296,000. Invesco Ltd. grew its position in Neuberger Berman High Yield Strategies Fund by 3.5% in the second quarter. Invesco Ltd. now owns 258,944 shares of the investment management company's stock worth $1,963,000 after acquiring an additional 8,676 shares in the last quarter. Finally, J.W. Cole Advisors Inc. grew its position in Neuberger Berman High Yield Strategies Fund by 3.1% in the second quarter. J.W. Cole Advisors Inc. now owns 206,192 shares of the investment management company's stock worth $1,563,000 after acquiring an additional 6,237 shares in the last quarter.

Neuberger Berman High Yield Strategies Fund Company Profile

Neuberger Berman High Yield Strategies Fund Inc is a closed-ended fixed income mutual fund launched by Neuberger Berman LLC. The fund is managed by Neuberger Berman Investment Advisers LLC. It invests in fixed income markets across the globe. The fund typically invests in high yield debt securities of various sectors, such as auto parts and equipment, airlines, automotive, electronics, health services, packaging, telecom-integrated/services, gaming, and gas distribution.

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