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)’s stock price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $2.42 and traded as high as $2.43. BNY Mellon High Yield Strategies Fund shares last traded at $2.4250, with a volume of 279,834 shares.

BNY Mellon High Yield Strategies Fund Stock Down 0.2%

The firm’s 50 day simple moving average is $2.42 and its two-hundred day simple moving average is $2.45.

BNY Mellon High Yield Strategies Fund Dividend Announcement

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

Institutional Investors Weigh In On BNY Mellon High Yield Strategies Fund

Several institutional investors have recently made changes to their positions in DHF. Geneos Wealth Management Inc. grew its position in 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 worth $26,000 after buying an additional 8,337 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in BNY Mellon High Yield Strategies Fund in the 2nd quarter valued at $26,000. Avior Wealth Management LLC bought a new stake in shares of BNY Mellon High Yield Strategies Fund during the 4th quarter valued at $28,000. Integrity Advisory Solutions LLC bought a new stake in shares of BNY Mellon High Yield Strategies Fund during the 3rd quarter valued at $28,000. Finally, Sentinel Pension Advisors LLC acquired a new stake in shares of BNY Mellon High Yield Strategies Fund during the 4th quarter worth $33,000. 36.16% of the stock is currently owned by institutional investors.

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.