Neuberger Berman High Yield Strategies Fund (NYSEAMERICAN:NHS) Sees Large Drop in Short Interest

Key Points

• Short interest plunged 80.3% to 3,753 shares as of August 14, down from 19,077 shares on July 30. Short positions represented 0.0% of outstanding shares, with a short-interest ratio of 0.0 days.
• NHS shares fell $0.04 to $5.96, near the 52-week low of $5.91, while trading below both its 50-day and 200-day moving averages.
• The fund announced a monthly dividend of $0.0905 per share, payable August 31 to shareholders of record August 17, implying an annualized yield of about 18.2%. Several institutional investors also increased their positions.

Neuberger Berman High Yield Strategies Fund (NYSEAMERICAN:NHS - Get Free Report) was the target of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 3,753 shares, a drop of 80.3% from the July 30th total of 19,077 shares. Based on an average daily trading volume, of 144,592 shares, the short-interest ratio is currently 0.0 days. Currently, 0.0% of the shares of the company are sold short.

Neuberger Berman High Yield Strategies Fund Stock Performance

NHS traded down $0.04 on Wednesday, reaching $5.96. 103,854 shares of the stock were exchanged, compared to its average volume of 226,392. Neuberger Berman High Yield Strategies Fund has a fifty-two week low of $5.91 and a fifty-two week high of $7.75. The company's 50-day moving average price is $6.10 and its 200 day moving average price is $6.54.

Neuberger Berman High Yield Strategies Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.0905 per share. This represents a c) annualized dividend and a yield of 18.2%. The ex-dividend date is Monday, August 17th.

Institutional Trading of Neuberger Berman High Yield Strategies Fund

A number of hedge funds have recently modified their holdings of the stock. Rivernorth Capital Management LLC grew its holdings in Neuberger Berman High Yield Strategies Fund by 2,185.7% during the second quarter. Rivernorth Capital Management LLC now owns 1,371,413 shares of the investment management company's stock worth $8,558,000 after acquiring an additional 1,311,413 shares during the period. Guggenheim Capital LLC boosted its position in Neuberger Berman High Yield Strategies Fund by 38.0% in the 4th quarter. Guggenheim Capital LLC now owns 567,943 shares of the investment management company's stock worth $4,225,000 after purchasing an additional 156,386 shares in the last quarter. Invesco Ltd. grew its stake in shares of Neuberger Berman High Yield Strategies Fund by 3.5% during the 2nd quarter. Invesco Ltd. now owns 258,944 shares of the investment management company's stock worth $1,963,000 after purchasing an additional 8,676 shares during the period. Cable Car Capital LP acquired a new stake in shares of Neuberger Berman High Yield Strategies Fund during the 2nd quarter worth approximately $1,455,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Neuberger Berman High Yield Strategies Fund by 47.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 117,760 shares of the investment management company's stock valued at $883,000 after purchasing an additional 37,860 shares in the last quarter.

Neuberger Berman High Yield Strategies Fund Company Profile

The Neuberger Berman High Yield Strategies Fund (NYSE American: NHS) is a closed-end, fixed-income management investment company focused on delivering high current income with the potential for capital appreciation. The fund primarily invests in below-investment-grade corporate debt—often referred to as high-yield bonds—issued by U.S. and select non-U.S. issuers. Through a diversified portfolio of high-yield instruments, NHS aims to provide enhanced yield relative to investment-grade alternatives.

Under its investment policy, NHS allocates the majority of its assets to corporate securities spanning sectors such as communications, energy, consumer goods, and industrials.

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