BNY Mellon High Yield Strategies Fund (NYSE:DHF) Stock Price Passes Above 50 Day Moving Average – Here’s What Happened

BNY Mellon High Yield Strategies Fund (NYSE:DHF) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $2.51 and traded as high as $2.55. BNY Mellon High Yield Strategies Fund shares last traded at $2.5450, with a volume of 407,472 shares changing hands.

BNY Mellon High Yield Strategies Fund Trading Up 0.2%

The business has a 50-day simple moving average of $2.51 and a 200-day simple moving average of $2.55.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, February 20th. Investors 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

Institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. bought a new stake in shares of BNY Mellon High Yield Strategies Fund in the third quarter valued at approximately $1,706,000. Envestnet Asset Management Inc. raised its stake in BNY Mellon High Yield Strategies Fund by 34.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 596,746 shares of the investment management company’s stock valued at $1,546,000 after purchasing an additional 153,045 shares during the last quarter. Capital Investment Advisors LLC bought a new stake in BNY Mellon High Yield Strategies Fund in the 3rd quarter valued at $32,000. Park Avenue Securities LLC grew its position in BNY Mellon High Yield Strategies Fund by 4.0% in the 3rd quarter. Park Avenue Securities LLC now owns 412,980 shares of the investment management company’s stock worth $1,070,000 after purchasing an additional 15,879 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of BNY Mellon High Yield Strategies Fund by 14.8% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 1,403,548 shares of the investment management company’s stock worth $3,635,000 after purchasing an additional 180,667 shares during the period. 36.16% of the stock is currently owned by institutional investors.

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.