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

BNY Mellon High Yield Strategies Fund (NYSE:DHF) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 23,529 shares, a decline of 40.3% from the August 31st total of 39,442 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 269,878 shares, the days-to-cover ratio is presently 0.1 days.

Insider Buying and Selling at BNY Mellon High Yield Strategies Fund

In other BNY Mellon High Yield Strategies Fund news, Director Joseph S. Dimartino purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 24th. The shares were acquired at an average price of $2.22 per share, for a total transaction of $44,400.00. Following the purchase, the director owned 240,000 shares in the company, valued at approximately $532,800. The trade was a 9.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 16.61% of the company’s stock.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bulldog Investors LLP acquired a new stake in shares of BNY Mellon High Yield Strategies Fund in the first quarter valued at about $700,000. Hennion & Walsh Asset Management Inc. grew its holdings in BNY Mellon High Yield Strategies Fund by 17.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 1,872,844 shares of the investment management company’s stock worth $4,532,000 after purchasing an additional 275,168 shares during the period. Fiera Capital Corp increased its stake in BNY Mellon High Yield Strategies Fund by 43.9% in the fourth quarter. Fiera Capital Corp now owns 494,528 shares of the investment management company’s stock valued at $1,226,000 after purchasing an additional 150,848 shares in the last quarter. Sit Investment Associates Inc. raised its holdings in shares of BNY Mellon High Yield Strategies Fund by 1.4% during the fourth quarter. Sit Investment Associates Inc. now owns 3,543,326 shares of the investment management company’s stock valued at $8,787,000 after purchasing an additional 47,342 shares during the period. Finally, Rivernorth Capital Management LLC boosted its position in shares of BNY Mellon High Yield Strategies Fund by 14.3% during the 1st quarter. Rivernorth Capital Management LLC now owns 366,828 shares of the investment management company’s stock worth $895,000 after purchasing an additional 45,764 shares in the last quarter. 36.16% of the stock is currently owned by institutional investors and hedge funds.

BNY Mellon High Yield Strategies Fund Stock Up 0.2%

BNY Mellon High Yield Strategies Fund stock traded up $0.01 during trading hours on Friday, hitting $2.23. The company had a trading volume of 424,225 shares, compared to its average volume of 320,889. The firm has a 50-day moving average of $2.33 and a 200 day moving average of $2.38. BNY Mellon High Yield Strategies Fund has a one year low of $2.12 and a one year high of $2.61.

BNY Mellon High Yield Strategies Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Thursday, October 8th will be given a dividend of $0.0175 per share. This represents a $0.21 dividend on an annualized basis and a dividend yield of 9.4%. The ex-dividend date is Thursday, October 8th.

BNY Mellon High Yield Strategies Fund Company Profile

BNY Mellon High Yield Strategies Fund (NYSE: DHF) is a closed-end investment fund that seeks to provide investors with a high level of current income and, secondarily, capital appreciation. The fund is managed by BNY Mellon Investment Adviser, LLC, and invests primarily in high-yield, below-investment-grade debt securities.

The fund’s portfolio may include corporate bonds, notes, loans and other fixed-income instruments issued by companies across a range of industries. These securities generally offer higher income potential than investment-grade debt but also carry greater credit and default risk.