BNY Mellon High Yield Strategies Fund (NYSE:DHF) Shares Cross Above 50-Day Moving Average – Time to Sell?

BNY Mellon High Yield Strategies Fund (NYSE:DHF)’s share price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $2.42 and traded as high as $2.43. BNY Mellon High Yield Strategies Fund shares last traded at $2.4250, with a volume of 279,834 shares changing hands.

BNY Mellon High Yield Strategies Fund Stock Performance

The business has a 50 day simple moving average of $2.42 and a 200 day simple moving average of $2.45.

BNY Mellon High Yield Strategies Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 9th will be issued a $0.0175 dividend. This represents a c) annualized dividend and a dividend yield of 8.7%. The ex-dividend date is Thursday, July 9th.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pathstone Holdings LLC increased its stake in BNY Mellon High Yield Strategies Fund by 21.6% during the third quarter. Pathstone Holdings LLC now owns 6,553,950 shares of the investment management company’s stock worth $16,975,000 after purchasing an additional 1,162,574 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of BNY Mellon High Yield Strategies Fund by 74.4% in the fourth quarter. Advisors Asset Management Inc. now owns 1,148,316 shares of the investment management company’s stock valued at $2,848,000 after purchasing an additional 489,761 shares in the last quarter. Rivernorth Capital Management LLC acquired a new position in shares of BNY Mellon High Yield Strategies Fund in the fourth quarter valued at approximately $796,000. Bulldog Investors LLP purchased a new stake in BNY Mellon High Yield Strategies Fund during the 1st quarter worth approximately $700,000. Finally, Wolverine Asset Management LLC purchased a new stake in BNY Mellon High Yield Strategies Fund during the 4th quarter worth approximately $607,000. 36.16% of the stock is currently owned by hedge funds and other institutional investors.

BNY Mellon High Yield Strategies Fund Company Profile

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.