BNY Mellon High Yield Strategies Fund (NYSE:DHF) Short Interest Up 127.3% in January

BNY Mellon High Yield Strategies Fund (NYSE:DHF) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 110,700 shares, an increase of 127.3% from the December 31st total of 48,700 shares. Based on an average daily trading volume, of 245,800 shares, the days-to-cover ratio is currently 0.5 days.

BNY Mellon High Yield Strategies Fund Stock Down 0.2 %

DHF traded down $0.01 on Wednesday, hitting $2.59. 205,867 shares of the company traded hands, compared to its average volume of 168,476. BNY Mellon High Yield Strategies Fund has a 12-month low of $2.27 and a 12-month high of $2.69. The company has a 50 day moving average of $2.60 and a 200-day moving average of $2.58.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, February 21st. Investors of record on Thursday, February 6th will be issued a dividend of $0.0175 per share. This represents a $0.21 annualized dividend and a dividend yield of 8.12%. The ex-dividend date is Thursday, February 6th.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

Institutional investors have recently bought and sold shares of the company. Freestate Advisors LLC purchased a new stake in shares of BNY Mellon High Yield Strategies Fund in the third quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in BNY Mellon High Yield Strategies Fund in the fourth quarter valued at about $63,000. Walleye Capital LLC purchased a new stake in BNY Mellon High Yield Strategies Fund in the 3rd quarter valued at approximately $88,000. Jane Street Group LLC increased its position in BNY Mellon High Yield Strategies Fund by 198.7% during the 3rd quarter. Jane Street Group LLC now owns 38,519 shares of the investment management company’s stock worth $104,000 after purchasing an additional 25,624 shares during the period. Finally, Avior Wealth Management LLC raised its stake in shares of BNY Mellon High Yield Strategies Fund by 51.2% during the 3rd quarter. Avior Wealth Management LLC now owns 74,503 shares of the investment management company’s stock worth $200,000 after buying an additional 25,231 shares in the last quarter. 36.16% of the stock is owned by institutional investors and hedge funds.

About BNY Mellon High Yield Strategies Fund

BNY Mellon High Yield Strategies Fund is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc 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.