BNY Mellon High Yield Strategies Fund (NYSE:DHF) Share Price Passes Below 50-Day Moving Average – Time to Sell?
by Tristan Rich · The Markets DailyBNY Mellon High Yield Strategies Fund (NYSE:DHF – Get Free Report)’s stock price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $2.49 and traded as low as $2.37. BNY Mellon High Yield Strategies Fund shares last traded at $2.38, with a volume of 302,862 shares changing hands.
BNY Mellon High Yield Strategies Fund Stock Performance
The firm’s 50 day moving average is $2.49 and its 200 day moving average is $2.53.
BNY Mellon High Yield Strategies Fund Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.0175 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a c) dividend on an annualized basis and a dividend yield of 8.9%.
Institutional Trading of BNY Mellon High Yield Strategies Fund
A number of institutional investors have recently made changes to their positions in the business. Pathstone Holdings LLC increased its position in BNY Mellon High Yield Strategies Fund by 21.6% during the 3rd quarter. Pathstone Holdings LLC now owns 6,553,950 shares of the investment management company’s stock valued at $16,975,000 after buying an additional 1,162,574 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in BNY Mellon High Yield Strategies Fund in the third quarter worth about $1,706,000. Rivernorth Capital Management LLC purchased a new stake in shares of BNY Mellon High Yield Strategies Fund during the fourth quarter worth about $796,000. Wolverine Asset Management LLC purchased a new stake in shares of BNY Mellon High Yield Strategies Fund during the fourth quarter worth about $607,000. Finally, Capital Investment Advisors LLC increased its holdings in shares of BNY Mellon High Yield Strategies Fund by 1,574.1% during the fourth quarter. Capital Investment Advisors LLC now owns 206,832 shares of the investment management company’s stock valued at $513,000 after acquiring an additional 194,477 shares in the last quarter. Institutional investors and hedge funds 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.