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

BNY Mellon High Yield Strategies Fund (NYSE:DHF) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 74,000 shares, a growth of 70.9% from the February 28th total of 43,300 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 273,100 shares, the days-to-cover ratio is currently 0.3 days.

BNY Mellon High Yield Strategies Fund Stock Down 0.2 %

DHF traded down $0.01 during trading hours on Friday, reaching $2.53. The company’s stock had a trading volume of 476,379 shares, compared to its average volume of 297,199. The company’s 50-day moving average is $2.58 and its 200-day moving average is $2.59. BNY Mellon High Yield Strategies Fund has a 52 week low of $2.27 and a 52 week high of $2.69.

BNY Mellon High Yield Strategies Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Wednesday, April 9th will be given a dividend of $0.0175 per share. This represents a $0.21 annualized dividend and a yield of 8.32%. The ex-dividend date is Wednesday, April 9th.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

Several institutional investors and hedge funds have recently modified their holdings of the business. Pathstone Holdings LLC boosted its position in BNY Mellon High Yield Strategies Fund by 1.9% in the fourth quarter. Pathstone Holdings LLC now owns 5,667,317 shares of the investment management company’s stock valued at $14,457,000 after buying an additional 105,809 shares in the last quarter. Focus Partners Wealth bought a new stake in shares of BNY Mellon High Yield Strategies Fund during the fourth quarter worth about $28,000. Shaker Financial Services LLC acquired a new stake in BNY Mellon High Yield Strategies Fund during the 4th quarter worth approximately $248,000. 1607 Capital Partners LLC grew its position in shares of BNY Mellon High Yield Strategies Fund by 84.7% in the 4th quarter. 1607 Capital Partners LLC now owns 713,713 shares of the investment management company’s stock valued at $1,820,000 after buying an additional 327,361 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of BNY Mellon High Yield Strategies Fund by 1.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 439,598 shares of the investment management company’s stock valued at $1,121,000 after purchasing an additional 6,210 shares in the last quarter. 36.16% of the stock is currently 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.