Short Interest in BNY Mellon High Yield Strategies Fund (NYSE:DHF) Declines By 57.9%

Key Points

• Short interest fell 57.9% to 39,442 shares as of August 31, down from 93,580 shares on August 15. Short interest represents approximately 0.1% of outstanding shares, with a short-interest ratio of 0.1 days.
• Institutional investors own 36.16% of DHF, while several firms recently initiated or increased positions, including Geneos Wealth Management, which boosted its stake by 493.9%.
• DHF opened at $2.31, near its 52-week low of $2.30, and announced a monthly dividend of $0.0175 per share, representing a stated annualized yield of 9.1%.

BNY Mellon High Yield Strategies Fund (NYSE:DHF - Get Free Report) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totaling 39,442 shares, a decline of 57.9% from the August 15th total of 93,580 shares. Based on an average daily trading volume, of 411,620 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. acquired a new stake in BNY Mellon High Yield Strategies Fund during the second quarter valued at approximately $26,000. Geneos Wealth Management Inc. lifted its position in shares of BNY Mellon High Yield Strategies Fund by 493.9% during the 1st 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 period. World Investment Advisors acquired a new stake in BNY Mellon High Yield Strategies Fund in the 4th quarter valued at $35,000. Marex Group plc acquired a new stake in BNY Mellon High Yield Strategies Fund in the 4th quarter valued at $38,000. Finally, Fermata Advisors LLC bought a new stake in BNY Mellon High Yield Strategies Fund in the second quarter valued at $42,000. Institutional investors own 36.16% of the company's stock.

BNY Mellon High Yield Strategies Fund Stock Performance

Shares of DHF stock opened at $2.31 on Friday. BNY Mellon High Yield Strategies Fund has a 52-week low of $2.30 and a 52-week high of $2.63. The firm has a fifty day moving average of $2.38 and a 200-day moving average of $2.40.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be paid a $0.0175 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a c) dividend on an annualized basis and a yield of 9.1%.

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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