BNY Mellon High Yield Strategies Fund (NYSE:DHF) Share Price Crosses Above 50-Day Moving Average of $2.35

BNY Mellon High Yield Strategies Fund (NYSE:DHF) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $2.35 and traded as high as $2.36. BNY Mellon High Yield Strategies Fund shares last traded at $2.35, with a volume of 679,151 shares changing hands.

BNY Mellon High Yield Strategies Fund Stock Up 0.4 %

The business’s 50 day moving average is $2.35 and its 200-day moving average is $2.29.

BNY Mellon High Yield Strategies Fund Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be issued a $0.0175 dividend. This represents a $0.21 dividend on an annualized basis and a yield of 8.94%. The ex-dividend date is Tuesday, May 7th.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

A number of hedge funds have recently added to or reduced their stakes in the business. Advisor Partners II LLC acquired a new position in shares of BNY Mellon High Yield Strategies Fund during the third quarter valued at $1,699,000. Park Avenue Securities LLC boosted its holdings in shares of BNY Mellon High Yield Strategies Fund by 3.3% during the third quarter. Park Avenue Securities LLC now owns 419,298 shares of the investment management company’s stock valued at $897,000 after acquiring an additional 13,201 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in shares of BNY Mellon High Yield Strategies Fund during the third quarter valued at $134,000. Ironsides Asset Advisors LLC boosted its holdings in shares of BNY Mellon High Yield Strategies Fund by 36.2% during the third quarter. Ironsides Asset Advisors LLC now owns 26,159 shares of the investment management company’s stock valued at $56,000 after acquiring an additional 6,956 shares during the period. Finally, Saba Capital Management L.P. boosted its holdings in shares of BNY Mellon High Yield Strategies Fund by 87.2% during the third quarter. Saba Capital Management L.P. now owns 3,027,195 shares of the investment management company’s stock valued at $6,478,000 after acquiring an additional 1,409,682 shares during the period. Institutional investors and hedge funds own 36.16% of the company’s stock.

BNY Mellon High Yield Strategies Fund Company Profile

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.