BNY Mellon High Yield Strategies Fund (NYSE:DHF) Stock Price Crosses Above 50-Day Moving Average – Should You Sell?

Shares of BNY Mellon High Yield Strategies Fund (NYSE:DHF) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $2.48 and traded as high as $2.55. BNY Mellon High Yield Strategies Fund shares last traded at $2.54, with a volume of 1,050,200 shares changing hands.

BNY Mellon High Yield Strategies Fund Trading Up 1.2%

The firm’s 50-day moving average price is $2.48 and its two-hundred day moving average price is $2.53.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 6th will be given a dividend of $0.0175 per share. The ex-dividend date is Friday, June 6th. This represents a $0.21 annualized dividend and a dividend yield of 8.27%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Shaker Financial Services LLC boosted its position in shares of BNY Mellon High Yield Strategies Fund by 135.2% during the 1st quarter. Shaker Financial Services LLC now owns 227,235 shares of the investment management company’s stock valued at $583,000 after acquiring an additional 130,635 shares during the last quarter. Garner Asset Management Corp acquired a new position in shares of BNY Mellon High Yield Strategies Fund during the 1st quarter valued at about $61,000. Sowell Financial Services LLC acquired a new position in shares of BNY Mellon High Yield Strategies Fund during the 1st quarter valued at about $51,000. Curated Wealth Partners LLC acquired a new position in shares of BNY Mellon High Yield Strategies Fund during the 1st quarter valued at about $40,000. Finally, Hennion & Walsh Asset Management Inc. boosted its position in shares of BNY Mellon High Yield Strategies Fund by 21.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 1,065,191 shares of the investment management company’s stock valued at $2,716,000 after acquiring an additional 186,058 shares during the last quarter. 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.