BNY Mellon High Yield Strategies Fund (NYSE:DHF – Get Free Report) was the recipient of a large drop in short interest in April. As of April 30th, there was short interest totaling 26,060 shares, a drop of 64.3% from the April 15th total of 73,088 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 286,812 shares, the days-to-cover ratio is currently 0.1 days.
Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund
A number of large investors have recently added to or reduced their stakes in the business. Bulldog Investors LLP purchased a new position in BNY Mellon High Yield Strategies Fund in the 1st quarter worth $700,000. World Investment Advisors purchased a new position in BNY Mellon High Yield Strategies Fund in the 4th quarter worth $35,000. Sit Investment Associates Inc. raised its position in 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 worth $8,787,000 after purchasing an additional 47,342 shares during the period. Rivernorth Capital Management LLC purchased a new position in BNY Mellon High Yield Strategies Fund in the 4th quarter worth $796,000. Finally, Boothbay Fund Management LLC purchased a new position in BNY Mellon High Yield Strategies Fund in the 4th quarter worth $79,000. Hedge funds and other institutional investors own 36.16% of the company’s stock.
BNY Mellon High Yield Strategies Fund Stock Performance
Shares of BNY Mellon High Yield Strategies Fund stock traded down $0.01 on Friday, hitting $2.41. 129,788 shares of the company traded hands, compared to its average volume of 348,094. The firm’s 50-day simple moving average is $2.40 and its 200 day simple moving average is $2.48. BNY Mellon High Yield Strategies Fund has a 12-month low of $2.33 and a 12-month high of $2.63.
BNY Mellon High Yield Strategies Fund Announces Dividend
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.
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