BNY Mellon High Yield Strategies Fund (NYSE:DHF) Share Price Crosses Above 50 Day Moving Average – What’s Next?

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 $2.41 and traded as high as $2.46. BNY Mellon High Yield Strategies Fund shares last traded at $2.4550, with a volume of 173,261 shares changing hands.

BNY Mellon High Yield Strategies Fund Stock Performance

The firm’s 50 day moving average is $2.41 and its 200-day moving average is $2.47.

BNY Mellon High Yield Strategies Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be paid a dividend of $0.0175 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a c) annualized dividend and a dividend yield of 8.6%.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Newbridge Financial Services Group Inc. purchased a new position in shares of BNY Mellon High Yield Strategies Fund during the second quarter valued at approximately $26,000. Geneos Wealth Management Inc. lifted its stake in shares of BNY Mellon High Yield Strategies Fund by 493.9% during the first quarter. Geneos Wealth Management Inc. now owns 10,025 shares of the investment management company’s stock valued at $26,000 after buying an additional 8,337 shares during the period. Integrity Advisory Solutions LLC purchased a new position in shares of BNY Mellon High Yield Strategies Fund during the third quarter valued at approximately $28,000. Avior Wealth Management LLC purchased a new position in shares of BNY Mellon High Yield Strategies Fund during the fourth quarter valued at approximately $28,000. Finally, Sentinel Pension Advisors LLC purchased a new position in shares of BNY Mellon High Yield Strategies Fund during the fourth quarter valued at approximately $33,000. 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.