BNY Mellon High Yield Strategies Fund (NYSE:DHF) Stock Price Passes Above Fifty Day Moving Average – What’s Next?

BNY Mellon High Yield Strategies Fund (NYSE:DHF)’s stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $2.42 and traded as high as $2.42. BNY Mellon High Yield Strategies Fund shares last traded at $2.4150, with a volume of 75,238 shares changing hands.

BNY Mellon High Yield Strategies Fund Stock Up 0.2%

The stock has a fifty day simple moving average of $2.42 and a 200-day simple moving average of $2.46.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be paid a $0.0175 dividend. The ex-dividend date is Friday, June 5th. This represents a c) annualized dividend and a dividend yield of 8.7%.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

Large investors have recently bought and sold shares of the stock. Park Avenue Securities LLC grew its position in BNY Mellon High Yield Strategies Fund by 1.2% in the 4th quarter. Park Avenue Securities LLC now owns 418,045 shares of the investment management company’s stock worth $1,037,000 after purchasing an additional 5,065 shares during the last quarter. Jane Street Group LLC raised its position in shares of BNY Mellon High Yield Strategies Fund by 11.5% during the fourth quarter. Jane Street Group LLC now owns 72,470 shares of the investment management company’s stock valued at $180,000 after buying an additional 7,490 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of BNY Mellon High Yield Strategies Fund by 493.9% in the first quarter. Geneos Wealth Management Inc. now owns 10,025 shares of the investment management company’s stock valued at $26,000 after buying an additional 8,337 shares during the period. Citadel Advisors LLC grew its position in BNY Mellon High Yield Strategies Fund by 31.4% during the third quarter. Citadel Advisors LLC now owns 38,193 shares of the investment management company’s stock worth $99,000 after buying an additional 9,120 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in BNY Mellon High Yield Strategies Fund during the second quarter worth about $26,000. 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 (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.