BNY Mellon High Yield Strategies Fund (NYSE:DHF – Get Free Report) was the target 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 company’s stock are sold short. Based on an average trading volume of 217,292 shares, the days-to-cover ratio is currently 0.4 days.
Institutional Trading of BNY Mellon High Yield Strategies Fund
Hedge funds and other institutional investors have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. acquired a new position in BNY Mellon High Yield Strategies Fund during the second quarter worth approximately $26,000. Geneos Wealth Management Inc. increased 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 during the last quarter. Integrity Advisory Solutions LLC acquired a new position in BNY Mellon High Yield Strategies Fund during the third quarter worth approximately $28,000. Avior Wealth Management LLC acquired a new position in BNY Mellon High Yield Strategies Fund during the fourth quarter worth approximately $28,000. Finally, Sentinel Pension Advisors LLC acquired a new position in BNY Mellon High Yield Strategies Fund during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 36.16% of the company’s stock.
BNY Mellon High Yield Strategies Fund Price Performance
Shares of NYSE:DHF traded up $0.02 during midday trading on Friday, reaching $2.42. The company had a trading volume of 289,675 shares, compared to its average volume of 320,777. The business’s 50 day moving average price is $2.42 and its 200 day moving average price is $2.46. BNY Mellon High Yield Strategies Fund has a 1-year low of $2.33 and a 1-year 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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