BNY Mellon High Yield Strategies Fund (NYSE:DHF) Stock Crosses Above 50-Day Moving Average – Here’s What Happened

BNY Mellon High Yield Strategies Fund (NYSE:DHF)’s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $2.41 and traded as high as $2.44. BNY Mellon High Yield Strategies Fund shares last traded at $2.4250, with a volume of 208,767 shares.

BNY Mellon High Yield Strategies Fund Price Performance

The stock’s 50-day simple moving average is $2.41 and its 200 day simple moving average is $2.47.

BNY Mellon High Yield Strategies Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be paid a dividend of $0.0175 per share. The ex-dividend date is Friday, June 5th. This represents a c) dividend on an annualized basis and a dividend yield of 8.7%.

Institutional Trading of BNY Mellon High Yield Strategies Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of DHF. Pathstone Holdings LLC grew its holdings in shares of 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 last quarter. Advisors Asset Management Inc. purchased a new stake in shares of BNY Mellon High Yield Strategies Fund in the 3rd quarter valued at about $1,706,000. Rivernorth Capital Management LLC acquired a new stake in shares of BNY Mellon High Yield Strategies Fund in the 4th quarter valued at about $796,000. Bulldog Investors LLP purchased a new position in BNY Mellon High Yield Strategies Fund during the 1st quarter worth approximately $700,000. Finally, Wolverine Asset Management LLC purchased a new position in BNY Mellon High Yield Strategies Fund during the 4th quarter worth approximately $607,000. 36.16% of the stock is currently owned by institutional investors and hedge funds.

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.