Morgan Stanley lowered shares of Dreyfus High Yield Strategies Fund (NYSE:DHF) from an overweight rating to an underweight rating in a report released on Monday morning, BenzingaRatingsTable reports. Morgan Stanley currently has $41.00 target price on the investment management company’s stock, down from their previous target price of $50.00.
Shares of DHF stock remained flat at $$3.07 during trading hours on Monday. The stock had a trading volume of 116,316 shares, compared to its average volume of 166,688. Dreyfus High Yield Strategies Fund has a 52 week low of $2.55 and a 52 week high of $3.26. The firm has a 50 day moving average price of $3.05.
The business also recently announced a monthly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th will be issued a $0.022 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 8.60%.
About Dreyfus High Yield Strategies Fund
Dreyfus High Yield Strategies Fund is a closed ended fixed income mutual fund launched and managed by The Dreyfus Corporation. The fund invests in the fixed income markets of the United States. It primarily invests in fixed income securities of below investment grade quality, including securities of companies at early stages of development and companies with a highly leveraged financial structure.
Further Reading: Forex
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