BNY Mellon High Yield Strategies Fund (NYSE:DHF) Share Price Crosses Below Fifty Day Moving Average – Should You Sell?
by Michael Walen · The Markets DailyShares of BNY Mellon High Yield Strategies Fund (NYSE:DHF – Get Free Report) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.51 and traded as low as $2.35. BNY Mellon High Yield Strategies Fund shares last traded at $2.3750, with a volume of 369,524 shares traded.
BNY Mellon High Yield Strategies Fund Price Performance
The stock has a 50-day simple moving average of $2.50 and a 200 day simple moving average of $2.54.
BNY Mellon High Yield Strategies Fund Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 10th will be issued a $0.0175 dividend. The ex-dividend date is Tuesday, March 10th. This represents a c) annualized dividend and a yield of 8.9%.
Institutional Trading of BNY Mellon High Yield Strategies Fund
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sit Investment Associates Inc. boosted its stake in shares of BNY Mellon High Yield Strategies Fund by 1.4% in the 4th quarter. Sit Investment Associates Inc. now owns 3,543,326 shares of the investment management company’s stock valued at $8,787,000 after purchasing an additional 47,342 shares during the last quarter. Rivernorth Capital Management LLC acquired a new stake in shares of BNY Mellon High Yield Strategies Fund during the 4th quarter worth approximately $796,000. Boothbay Fund Management LLC bought a new stake in shares of BNY Mellon High Yield Strategies Fund during the fourth quarter worth approximately $79,000. Cetera Investment Advisers lifted its holdings in BNY Mellon High Yield Strategies Fund by 12.1% in the fourth quarter. Cetera Investment Advisers now owns 224,102 shares of the investment management company’s stock valued at $556,000 after buying an additional 24,256 shares during the period. Finally, Mariner LLC lifted its holdings in BNY Mellon High Yield Strategies Fund by 150.0% in the fourth quarter. Mariner LLC now owns 31,507 shares of the investment management company’s stock valued at $78,000 after buying an additional 18,904 shares during the period. 36.16% of the stock is owned by institutional investors.
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.