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

Key Points

• Short interest surged 456.4% to 20,880 shares as of August 31, up from 3,753 shares on August 15. Despite the increase, only about 0.1% of NHS shares were sold short, representing 0.1 days of average trading volume.
• NHS shares traded at $5.86, near the stock’s one-year low of $5.85 and below its 50-day and 200-day moving averages. The fund declared a monthly dividend of $0.0905 per share, implying an annualized yield of 18.5%.
• Several institutional investors increased their positions, led by RiverNorth Capital Management, which boosted its stake by 2,185.7% to 1.37 million shares; Cable Car Capital also established a new position.

Neuberger Berman High Yield Strategies Fund (NYSEAMERICAN:NHS - Get Free Report) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 20,880 shares, a growth of 456.4% from the August 15th total of 3,753 shares. Based on an average trading volume of 157,897 shares, the short-interest ratio is currently 0.1 days. Approximately 0.1% of the company's shares are short sold.

Neuberger Berman High Yield Strategies Fund Price Performance

NHS stock traded down $0.03 during midday trading on Friday, hitting $5.86. 31,295 shares of the company's stock were exchanged, compared to its average volume of 219,890. The business has a 50-day simple moving average of $6.04 and a two-hundred day simple moving average of $6.39. Neuberger Berman High Yield Strategies Fund has a 1-year low of $5.85 and a 1-year high of $7.75.

Neuberger Berman High Yield Strategies Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.0905 per share. This represents a c) dividend on an annualized basis and a dividend yield of 18.5%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Rivernorth Capital Management LLC boosted its stake 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 buying an additional 1,311,413 shares during the period. Guggenheim Capital LLC lifted its holdings in shares of 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 acquiring an additional 156,386 shares during the last quarter. Invesco Ltd. boosted its position 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 purchased a new position in shares of Neuberger Berman High Yield Strategies Fund during the 2nd quarter worth approximately $1,455,000. Finally, Ameriprise Financial Inc. boosted its position 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 worth $883,000 after purchasing an additional 37,860 shares during the period.

About Neuberger Berman High Yield Strategies Fund

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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