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

BNY Mellon High Yield Strategies Fund (NYSE:DHFGet Free Report) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 122,900 shares, an increase of 185.2% from the March 15th total of 43,100 shares. Based on an average daily trading volume, of 410,000 shares, the days-to-cover ratio is currently 0.3 days.

BNY Mellon High Yield Strategies Fund Stock Performance

Shares of DHF stock traded down $0.02 on Friday, hitting $2.29. The company had a trading volume of 222,082 shares, compared to its average volume of 406,784. BNY Mellon High Yield Strategies Fund has a twelve month low of $2.06 and a twelve month high of $2.42. The company has a 50-day moving average price of $2.36 and a 200-day moving average price of $2.27.

BNY Mellon High Yield Strategies Fund Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.018 per share. This is a positive change from BNY Mellon High Yield Strategies Fund’s previous monthly dividend of $0.02. This represents a $0.22 annualized dividend and a yield of 9.43%. The ex-dividend date is Tuesday, April 9th.

Institutional Investors Weigh In On BNY Mellon High Yield Strategies Fund

Large investors have recently bought and sold shares of the company. Wells Fargo & Company MN increased its stake in BNY Mellon High Yield Strategies Fund by 129.7% during the 4th quarter. Wells Fargo & Company MN now owns 11,358 shares of the investment management company’s stock worth $25,000 after buying an additional 6,414 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in BNY Mellon High Yield Strategies Fund during the 4th quarter worth approximately $94,000. 1607 Capital Partners LLC increased its stake in BNY Mellon High Yield Strategies Fund by 12.6% during the 4th quarter. 1607 Capital Partners LLC now owns 709,874 shares of the investment management company’s stock worth $1,626,000 after buying an additional 79,564 shares in the last quarter. Blue Bell Private Wealth Management LLC purchased a new stake in BNY Mellon High Yield Strategies Fund during the 4th quarter worth approximately $49,000. Finally, Melfa Wealth Management LLC increased its stake in BNY Mellon High Yield Strategies Fund by 364.7% during the 4th quarter. Melfa Wealth Management LLC now owns 121,303 shares of the investment management company’s stock worth $278,000 after buying an additional 95,200 shares in the last quarter. 36.16% of the stock is currently owned by hedge funds and other institutional investors.

About BNY Mellon High Yield Strategies Fund

(Get Free Report)

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.

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