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

BNY Mellon High Yield Strategies Fund (NYSE:DHF)’s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $2.41 and traded as high as $2.42. BNY Mellon High Yield Strategies Fund shares last traded at $2.4050, with a volume of 149,657 shares trading hands.

BNY Mellon High Yield Strategies Fund Stock Performance

The stock has a 50-day simple moving average of $2.41 and a 200 day simple moving average of $2.44.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, July 23rd. Investors of record on Thursday, July 9th will be issued a dividend of $0.0175 per share. This represents a c) annualized dividend and a dividend yield of 8.7%. The ex-dividend date is Thursday, July 9th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DHF. Newbridge Financial Services Group Inc. purchased a new stake in BNY Mellon High Yield Strategies Fund in the 2nd quarter worth approximately $26,000. Geneos Wealth Management Inc. increased 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 worth $26,000 after acquiring an additional 8,337 shares during the last quarter. Avior Wealth Management LLC purchased a new stake in shares of BNY Mellon High Yield Strategies Fund during the fourth quarter worth $28,000. Sentinel Pension Advisors LLC purchased a new stake in shares of BNY Mellon High Yield Strategies Fund during the fourth quarter worth $33,000. Finally, World Investment Advisors acquired a new stake in BNY Mellon High Yield Strategies Fund during the fourth quarter valued at $35,000. Institutional investors and hedge funds own 36.16% of the company’s stock.

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.