BNY Mellon High Yield Strategies Fund (NYSE:DHF) Share Price Crosses Above 50-Day Moving Average of $2.35

BNY Mellon High Yield Strategies Fund (NYSE:DHF) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $2.35 and traded as high as $2.36. BNY Mellon High Yield Strategies Fund shares last traded at $2.35, with a volume of 679,151 shares trading hands.

BNY Mellon High Yield Strategies Fund Price Performance

The company has a 50 day moving average price of $2.35 and a 200 day moving average price of $2.29.

BNY Mellon High Yield Strategies Fund Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be paid a $0.0175 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $0.21 annualized dividend and a dividend yield of 8.94%.

Institutional Investors Weigh In On BNY Mellon High Yield Strategies Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Bell Private Wealth Management LLC acquired a new stake in shares of BNY Mellon High Yield Strategies Fund in the 4th quarter valued at $49,000. Ironsides Asset Advisors LLC boosted its position in shares of BNY Mellon High Yield Strategies Fund by 36.2% in the 3rd quarter. Ironsides Asset Advisors LLC now owns 26,159 shares of the investment management company’s stock worth $56,000 after purchasing an additional 6,956 shares during the last quarter. Nomura Holdings Inc. bought a new position in shares of BNY Mellon High Yield Strategies Fund in the 4th quarter worth $94,000. Hennion & Walsh Asset Management Inc. bought a new position in shares of BNY Mellon High Yield Strategies Fund in the 3rd quarter worth $134,000. Finally, PFG Investments LLC bought a new position in shares of BNY Mellon High Yield Strategies Fund in the 1st quarter worth $251,000. 36.16% of the stock is owned by institutional investors and hedge funds.

About BNY Mellon High Yield Strategies Fund

BNY Mellon High Yield Strategies Fund is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc The fund invests in the fixed income markets of the United States. It primarily invests in fixed income securities of below investment grade quality, including securities of companies at early stages of development and companies with a highly leveraged financial structure.