Short Interest in BNY Mellon High Yield Strategies Fund (NYSE:DHF) Rises By 127.3%

BNY Mellon High Yield Strategies Fund (NYSE:DHF) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 110,700 shares, an increase of 127.3% from the December 31st total of 48,700 shares. Based on an average daily trading volume, of 245,800 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

Several institutional investors have recently bought and sold shares of DHF. Pathstone Holdings LLC boosted its stake in shares of BNY Mellon High Yield Strategies Fund by 36.9% in the third quarter. Pathstone Holdings LLC now owns 5,561,508 shares of the investment management company’s stock valued at $14,961,000 after purchasing an additional 1,500,234 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in BNY Mellon High Yield Strategies Fund by 47.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 879,133 shares of the investment management company’s stock valued at $2,242,000 after buying an additional 284,913 shares during the period. Park Avenue Securities LLC grew its stake in shares of BNY Mellon High Yield Strategies Fund by 4.7% in the fourth quarter. Park Avenue Securities LLC now owns 417,269 shares of the investment management company’s stock worth $1,064,000 after acquiring an additional 18,579 shares in the last quarter. Melfa Wealth Management Inc. increased its position in shares of BNY Mellon High Yield Strategies Fund by 16.0% during the fourth quarter. Melfa Wealth Management Inc. now owns 141,330 shares of the investment management company’s stock worth $360,000 after acquiring an additional 19,500 shares during the period. Finally, Avior Wealth Management LLC raised its stake in shares of BNY Mellon High Yield Strategies Fund by 51.2% in the third quarter. Avior Wealth Management LLC now owns 74,503 shares of the investment management company’s stock valued at $200,000 after acquiring an additional 25,231 shares in the last quarter. 36.16% of the stock is owned by institutional investors and hedge funds.

BNY Mellon High Yield Strategies Fund Stock Up 0.6 %

NYSE:DHF traded up $0.02 during trading hours on Friday, reaching $2.61. 79,260 shares of the stock were exchanged, compared to its average volume of 166,726. BNY Mellon High Yield Strategies Fund has a twelve month low of $2.27 and a twelve month high of $2.69. The business has a 50-day moving average of $2.60 and a two-hundred day moving average of $2.58.

BNY Mellon High Yield Strategies Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, February 21st. Investors of record on Thursday, February 6th will be issued a dividend of $0.0175 per share. This represents a $0.21 dividend on an annualized basis and a yield of 8.06%. The ex-dividend date of this dividend is Thursday, February 6th.

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.