BNY Mellon High Yield Strategies Fund (NYSE:DHF) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

BNY Mellon High Yield Strategies Fund (NYSE:DHF) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.58 and traded as low as $2.58. BNY Mellon High Yield Strategies Fund shares last traded at $2.60, with a volume of 107,768 shares traded.

BNY Mellon High Yield Strategies Fund Price Performance

The stock has a 50 day moving average of $2.59 and a 200 day moving average of $2.58.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, February 21st. Stockholders 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 dividend yield of 8.09%. The ex-dividend date of this dividend is Thursday, February 6th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Shaker Financial Services LLC acquired a new stake in shares of BNY Mellon High Yield Strategies Fund in the 4th quarter valued at $248,000. 1607 Capital Partners LLC boosted its stake in BNY Mellon High Yield Strategies Fund by 84.7% in the fourth quarter. 1607 Capital Partners LLC now owns 713,713 shares of the investment management company’s stock valued at $1,820,000 after buying an additional 327,361 shares in the last quarter. Envestnet Asset Management Inc. grew its position in BNY Mellon High Yield Strategies Fund by 1.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 439,598 shares of the investment management company’s stock valued at $1,121,000 after acquiring an additional 6,210 shares during the last quarter. LPL Financial LLC raised its stake in BNY Mellon High Yield Strategies Fund by 30.0% during the fourth quarter. LPL Financial LLC now owns 339,504 shares of the investment management company’s stock worth $866,000 after acquiring an additional 78,294 shares in the last quarter. Finally, Truist Financial Corp bought a new position in shares of BNY Mellon High Yield Strategies Fund in the fourth quarter worth about $168,000. 36.16% of the stock is owned by institutional investors.

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.