BNY Mellon High Yield Strategies Fund (NYSE:DHF) Shares Shorted: Short Interest Down 40.3% in September

Key Points

• Short interest fell 40.3% to 23,529 shares as of September 15, representing 0.0% of shares outstanding and a short-interest ratio of 0.1 days.
• Director Joseph S. Dimartino bought 20,000 shares at an average price of $2.22, increasing his holdings by 9.09%; insiders own 16.61%, while institutional investors own 36.16%.
• DHF recently traded at $2.23, within its 52-week range of $2.12 to $2.61, and declared a monthly dividend of $0.0175, equating to a 9.4% annualized yield.

BNY Mellon High Yield Strategies Fund (NYSE:DHF - Get Free Report) saw a significant drop in short interest in September. As of September 15th, there was short interest totaling 23,529 shares, a drop of 40.3% from the August 31st total of 39,442 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 269,878 shares, the short-interest ratio is currently 0.1 days.

Insider Activity at BNY Mellon High Yield Strategies Fund

In other news, Director Joseph S. Dimartino acquired 20,000 shares of the business's stock in a transaction dated Thursday, September 24th. The stock was purchased at an average price of $2.22 per share, for a total transaction of $44,400.00. Following the completion of the transaction, the director directly owned 240,000 shares in the company, valued at approximately $532,800. This trade represents a 9.09% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 16.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. World Investment Advisors purchased a new stake in shares of BNY Mellon High Yield Strategies Fund during the 4th quarter valued at $35,000. Fermata Advisors LLC acquired a new stake in BNY Mellon High Yield Strategies Fund during the 2nd quarter valued at approximately $42,000. Closed End Fund Advisors Inc. purchased a new position in shares of BNY Mellon High Yield Strategies Fund during the fourth quarter worth $109,000. Bulldog Investors LLP acquired a new position in shares of BNY Mellon High Yield Strategies Fund in the 1st quarter valued at about $700,000. Finally, Rivernorth Capital Management LLC lifted its holdings in BNY Mellon High Yield Strategies Fund by 14.3% in the first quarter. Rivernorth Capital Management LLC now owns 366,828 shares of the investment management company's stock valued at $895,000 after acquiring an additional 45,764 shares during the period. Hedge funds and other institutional investors own 36.16% of the company's stock.

BNY Mellon High Yield Strategies Fund Stock Performance

NYSE:DHF opened at $2.23 on Wednesday. The stock's fifty day moving average is $2.34 and its 200 day moving average is $2.38. BNY Mellon High Yield Strategies Fund has a fifty-two week low of $2.12 and a fifty-two week high of $2.61.

BNY Mellon High Yield Strategies Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Thursday, October 8th will be given a $0.0175 dividend. This represents a $0.21 annualized dividend and a yield of 9.4%. The ex-dividend date of this dividend is Thursday, October 8th.

About BNY Mellon High Yield Strategies Fund

BNY Mellon High Yield Strategies Fund NYSE: DHF is a closed-end investment fund that seeks to provide investors with a high level of current income and, secondarily, capital appreciation. The fund is managed by BNY Mellon Investment Adviser, LLC, and invests primarily in high-yield, below-investment-grade debt securities.

The fund's portfolio may include corporate bonds, notes, loans and other fixed-income instruments issued by companies across a range of industries. These securities generally offer higher income potential than investment-grade debt but also carry greater credit and default risk.

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