BNY Mellon High Yield Strategies Fund (NYSE:DHF) Stock Price Passes Above 50 Day Moving Average – Here’s What Happened

BNY Mellon High Yield Strategies Fund (NYSE:DHF) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $2.51 and traded as high as $2.55. BNY Mellon High Yield Strategies Fund shares last traded at $2.5450, with a volume of 407,472 shares trading hands.

BNY Mellon High Yield Strategies Fund Stock Performance

The firm has a 50 day moving average of $2.51 and a 200-day moving average of $2.55.

BNY Mellon High Yield Strategies Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, February 20th. Investors of record on Thursday, February 5th will be paid a $0.0175 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 8.3%. The ex-dividend date is Thursday, February 5th.

Institutional Investors Weigh In On BNY Mellon High Yield Strategies Fund

Institutional investors have recently bought and sold shares of the business. Pathstone Holdings LLC increased its holdings in BNY Mellon High Yield Strategies Fund by 21.6% in the 3rd quarter. Pathstone Holdings LLC now owns 6,553,950 shares of the investment management company’s stock valued at $16,975,000 after buying an additional 1,162,574 shares during the period. Advisors Asset Management Inc. bought a new stake in BNY Mellon High Yield Strategies Fund in the third quarter valued at about $1,706,000. Wolverine Asset Management LLC increased its stake in BNY Mellon High Yield Strategies Fund by 786.4% in the second quarter. Wolverine Asset Management LLC now owns 267,959 shares of the investment management company’s stock valued at $697,000 after acquiring an additional 237,730 shares during the period. Capital Investment Advisors LLC raised its position in BNY Mellon High Yield Strategies Fund by 1,574.1% in the fourth quarter. Capital Investment Advisors LLC now owns 206,832 shares of the investment management company’s stock worth $513,000 after purchasing an additional 194,477 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in BNY Mellon High Yield Strategies Fund by 14.8% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 1,403,548 shares of the investment management company’s stock worth $3,635,000 after purchasing an additional 180,667 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 (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.