BNY Mellon High Yield Strategies Fund (NYSE:DHF) Short Interest Update

BNY Mellon High Yield Strategies Fund (NYSE:DHF) was the target of a significant growth in short interest in January. As of January 30th, there was short interest totaling 252,752 shares, a growth of 447.8% from the January 15th total of 46,142 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily volume of 659,498 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 659,498 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.3% of the company’s stock are short sold.

BNY Mellon High Yield Strategies Fund Price Performance

NYSE:DHF opened at $2.53 on Wednesday. The firm has a 50 day moving average of $2.51 and a 200 day moving average of $2.55. BNY Mellon High Yield Strategies Fund has a 52 week low of $2.21 and a 52 week high of $2.63.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, February 20th. Shareholders of record on Thursday, February 5th will be paid a $0.0175 dividend. The ex-dividend date is Thursday, February 5th. This represents a c) dividend on an annualized basis and a yield of 8.3%.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

Hedge funds have recently modified their holdings of the stock. Pathstone Holdings LLC raised its stake in shares of 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 during the last quarter. Advisors Asset Management Inc. purchased a new stake in BNY Mellon High Yield Strategies Fund in the 3rd quarter worth approximately $1,706,000. Wolverine Asset Management LLC acquired a new position in shares of BNY Mellon High Yield Strategies Fund in the 4th quarter valued at $607,000. Capital Investment Advisors LLC boosted its holdings in 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 worth $513,000 after buying an additional 194,477 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in BNY Mellon High Yield Strategies Fund by 14.8% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 1,403,548 shares of the investment management company’s stock valued at $3,635,000 after buying an additional 180,667 shares during the period. 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.