Short Interest in BNY Mellon High Yield Strategies Fund (NYSE:DHF) Rises By 447.8%

BNY Mellon High Yield Strategies Fund (NYSE:DHF) was the target of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 252,752 shares, an increase of 447.8% from the January 15th total of 46,142 shares. Based on an average daily volume of 659,498 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.3% of the shares of the stock are short sold. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily volume of 659,498 shares, the days-to-cover ratio is presently 0.4 days.

BNY Mellon High Yield Strategies Fund Stock Performance

DHF opened at $2.53 on Wednesday. BNY Mellon High Yield Strategies Fund has a twelve month low of $2.21 and a twelve month high of $2.63. The company has a 50-day moving average price of $2.51 and a 200 day moving average price of $2.55.

BNY Mellon High Yield Strategies Fund Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DHF. Geneos Wealth Management Inc. increased its holdings 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 purchasing an additional 8,337 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in BNY Mellon High Yield Strategies Fund by 1.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 443,701 shares of the investment management company’s stock valued at $1,154,000 after buying an additional 5,309 shares in the last quarter. Wolverine Asset Management LLC increased its stake in shares of BNY Mellon High Yield Strategies Fund by 786.4% in the 2nd quarter. Wolverine Asset Management LLC now owns 267,959 shares of the investment management company’s stock worth $697,000 after acquiring an additional 237,730 shares during the last quarter. Shaker Financial Services LLC increased its stake in shares of BNY Mellon High Yield Strategies Fund by 31.0% in the 2nd quarter. Shaker Financial Services LLC now owns 297,741 shares of the investment management company’s stock worth $774,000 after acquiring an additional 70,506 shares during the last quarter. Finally, J.W. Cole Advisors Inc. purchased a new position in shares of BNY Mellon High Yield Strategies Fund during the 2nd quarter worth $31,000. Hedge funds and other institutional investors 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.