BNY Mellon High Yield Strategies Fund (NYSE:DHF) Short Interest Update
by Tristan Rich · The Markets DailyBNY Mellon High Yield Strategies Fund (NYSE:DHF – Get Free Report) was the recipient of a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 93,802 shares, an increase of 171.2% from the May 14th total of 34,593 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 217,292 shares, the days-to-cover ratio is presently 0.4 days.
BNY Mellon High Yield Strategies Fund Trading Up 0.6%
Shares of NYSE:DHF traded up $0.02 during trading on Friday, reaching $2.42. 289,675 shares of the stock were exchanged, compared to its average volume of 320,777. BNY Mellon High Yield Strategies Fund has a 12 month low of $2.33 and a 12 month high of $2.63. The stock has a 50-day moving average price of $2.42 and a 200-day moving average price of $2.46.
BNY Mellon High Yield Strategies Fund Dividend Announcement
The company also recently disclosed a monthly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be issued a dividend of $0.0175 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.7%. The ex-dividend date is Friday, June 5th.
Institutional Investors Weigh In On BNY Mellon High Yield Strategies Fund
A number of institutional investors have recently made changes to their positions in DHF. LPL Financial LLC lifted its stake in BNY Mellon High Yield Strategies Fund by 12.0% during the fourth quarter. LPL Financial LLC now owns 573,835 shares of the investment management company’s stock worth $1,423,000 after purchasing an additional 61,419 shares during the last quarter. HRT Financial LP bought a new stake in BNY Mellon High Yield Strategies Fund during the fourth quarter worth $103,000. Boothbay Fund Management LLC bought a new stake in BNY Mellon High Yield Strategies Fund during the fourth quarter worth $79,000. Mariner LLC lifted its stake in BNY Mellon High Yield Strategies Fund by 150.0% during the fourth quarter. Mariner LLC now owns 31,507 shares of the investment management company’s stock worth $78,000 after purchasing an additional 18,904 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in BNY Mellon High Yield Strategies Fund during the second quarter worth $26,000. Institutional investors 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.