BNY Mellon High Yield Strategies Fund (NYSE:DHF) Sees Large Growth in Short Interest

BNY Mellon High Yield Strategies Fund (NYSE:DHF) was the target of a large increase in short interest in March. As of March 13th, there was short interest totaling 97,421 shares, an increase of 19.7% from the February 26th total of 81,355 shares. Based on an average daily volume of 382,960 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the shares of the stock are short sold.

Institutional Investors Weigh In On BNY Mellon High Yield Strategies Fund

A number of institutional investors have recently added to or reduced their stakes in the business. Park Avenue Securities LLC increased its position in BNY Mellon High Yield Strategies Fund by 1.2% in the 4th quarter. Park Avenue Securities LLC now owns 418,045 shares of the investment management company’s stock valued at $1,037,000 after acquiring an additional 5,065 shares during the period. Jane Street Group LLC lifted its holdings in shares of BNY Mellon High Yield Strategies Fund by 11.5% during the fourth quarter. Jane Street Group LLC now owns 72,470 shares of the investment management company’s stock worth $180,000 after purchasing an additional 7,490 shares during the period. Geneos Wealth Management Inc. grew its stake 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 purchasing an additional 8,337 shares during the last quarter. Citadel Advisors LLC grew its stake in shares of BNY Mellon High Yield Strategies Fund by 31.4% in the third quarter. Citadel Advisors LLC now owns 38,193 shares of the investment management company’s stock worth $99,000 after purchasing an additional 9,120 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in BNY Mellon High Yield Strategies Fund in the second quarter valued at $26,000. 36.16% of the stock is owned by institutional investors.

BNY Mellon High Yield Strategies Fund Price Performance

BNY Mellon High Yield Strategies Fund stock traded up $0.07 during trading hours on Tuesday, hitting $2.41. The stock had a trading volume of 271,389 shares, compared to its average volume of 392,574. The business’s 50 day simple moving average is $2.47 and its 200-day simple moving average is $2.51. BNY Mellon High Yield Strategies Fund has a one year low of $2.21 and a one year high of $2.63.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 8th will be issued a $0.0175 dividend. This represents a c) dividend on an annualized basis and a yield of 8.7%. The ex-dividend date is Wednesday, April 8th.

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.