BNY Mellon High Yield Strategies Fund (NYSE:DHF) Short Interest Update

Key Points

• Short interest surged 132.3% to 93,580 shares as of August 14, up from 40,276 shares on July 30. Short interest represents 0.1% of shares outstanding, with a days-to-cover ratio of 0.4.
• Institutional ownership stands at 36.16%, with several investors increasing their positions, including Geneos Wealth Management, Walleye Capital, Invesco and Bank of America.
• DHF shares recently traded at $2.36, near the lower end of their 52-week range, while the fund announced a monthly dividend of $0.0175 per share, implying an annualized yield of approximately 8.9%.

BNY Mellon High Yield Strategies Fund (NYSE:DHF - Get Free Report) saw a significant growth in short interest in August. As of August 14th, there was short interest totaling 93,580 shares, a growth of 132.3% from the July 30th total of 40,276 shares. Based on an average daily volume of 217,479 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the company's stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DHF. Geneos Wealth Management Inc. boosted its holdings in shares of 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 worth $26,000 after buying an additional 8,337 shares during the last quarter. Invesco Ltd. boosted its stake in shares of BNY Mellon High Yield Strategies Fund by 12.1% during the 2nd quarter. Invesco Ltd. now owns 1,009,240 shares of the investment management company's stock worth $2,624,000 after acquiring an additional 109,246 shares during the last quarter. Walleye Capital LLC boosted its stake 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 worth $142,000 after acquiring an additional 39,926 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of BNY Mellon High Yield Strategies Fund during the 2nd quarter valued at $163,000. Finally, Bank of America Corp DE increased its stake in shares of BNY Mellon High Yield Strategies Fund by 49.9% in the 2nd quarter. Bank of America Corp DE now owns 48,902 shares of the investment management company's stock worth $127,000 after purchasing an additional 16,277 shares in the last quarter. Institutional investors own 36.16% of the company's stock.

BNY Mellon High Yield Strategies Fund Stock Performance

Shares of BNY Mellon High Yield Strategies Fund stock traded up $0.01 during midday trading on Friday, hitting $2.36. The company had a trading volume of 98,585 shares, compared to its average volume of 313,104. BNY Mellon High Yield Strategies Fund has a 52-week low of $2.32 and a 52-week high of $2.63. The company has a 50 day moving average of $2.39 and a 200 day moving average of $2.42.

BNY Mellon High Yield Strategies Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be given a dividend of $0.0175 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a c) annualized dividend and a dividend yield of 8.9%.

About BNY Mellon High Yield Strategies Fund

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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