BNY Mellon High Yield Strategies Fund (NYSE:DHF) Share Price Passes Below 200-Day Moving Average of $2.24

BNY Mellon High Yield Strategies Fund (NYSE:DHF – Get Rating)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.24 and traded as low as $2.13. BNY Mellon High Yield Strategies Fund shares last traded at $2.14, with a volume of 188,703 shares traded.

BNY Mellon High Yield Strategies Fund Price Performance

The business’s 50-day moving average is $2.18 and its 200 day moving average is $2.24.

BNY Mellon High Yield Strategies Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Thursday, June 8th will be given a $0.015 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 8.33%. The ex-dividend date of this dividend is Wednesday, June 7th.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

A number of hedge funds have recently modified their holdings of DHF. Cetera Investment Advisers boosted its stake in shares of BNY Mellon High Yield Strategies Fund by 3.5% during the 4th quarter. Cetera Investment Advisers now owns 130,319 shares of the investment management company’s stock valued at $281,000 after purchasing an additional 4,376 shares in the last quarter. MML Investors Services LLC lifted its stake in shares of BNY Mellon High Yield Strategies Fund by 46.1% in the third quarter. MML Investors Services LLC now owns 20,057 shares of the investment management company’s stock worth $42,000 after buying an additional 6,329 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of BNY Mellon High Yield Strategies Fund by 129.7% in the fourth quarter. Wells Fargo & Company MN now owns 11,358 shares of the investment management company’s stock worth $25,000 after buying an additional 6,414 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of BNY Mellon High Yield Strategies Fund by 1.4% during the third quarter. Envestnet Asset Management Inc. now owns 498,143 shares of the investment management company’s stock valued at $1,051,000 after purchasing an additional 6,846 shares during the last quarter. Finally, UBS Group AG raised its holdings in shares of BNY Mellon High Yield Strategies Fund by 8.9% during the fourth quarter. UBS Group AG now owns 85,675 shares of the investment management company’s stock valued at $185,000 after purchasing an additional 7,031 shares during the last quarter. Hedge funds and other institutional investors own 14.49% of the company’s stock.

About BNY Mellon High Yield Strategies Fund

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BNY Mellon High Yield Strategies Fund is a non-diversified, closed-end management investment company. Its primary investment objective is to seek high current income. The firm invests its assets in income securities of U.S. issuers rated below investment grade quality or unrated income securities that The Dreyfus Corp., serving as the fund’s investment manager and administrator.