BNY Mellon High Yield Strategies Fund (NYSE:DHF) Stock Passes Above 50-Day Moving Average of $2.35

BNY Mellon High Yield Strategies Fund (NYSE:DHF) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $2.35 and traded as high as $2.36. BNY Mellon High Yield Strategies Fund shares last traded at $2.35, with a volume of 679,151 shares trading hands.

BNY Mellon High Yield Strategies Fund Trading Up 0.9 %

The company has a fifty day simple moving average of $2.35 and a two-hundred day simple moving average of $2.29.

BNY Mellon High Yield Strategies Fund Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be issued a dividend of $0.0175 per share. The ex-dividend date is Tuesday, May 7th. This represents a $0.21 annualized dividend and a yield of 8.90%.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

Several institutional investors have recently bought and sold shares of the stock. PFG Investments LLC bought a new position in BNY Mellon High Yield Strategies Fund during the first quarter valued at about $251,000. Allspring Global Investments Holdings LLC acquired a new position in shares of BNY Mellon High Yield Strategies Fund during the 1st quarter worth about $2,503,000. Hennion & Walsh Asset Management Inc. boosted its stake in BNY Mellon High Yield Strategies Fund by 50.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 328,231 shares of the investment management company’s stock valued at $794,000 after purchasing an additional 109,707 shares during the period. Nomura Holdings Inc. bought a new stake in BNY Mellon High Yield Strategies Fund during the 4th quarter valued at approximately $94,000. Finally, 1607 Capital Partners LLC boosted its stake in BNY Mellon High Yield Strategies Fund by 12.6% during the 4th quarter. 1607 Capital Partners LLC now owns 709,874 shares of the investment management company’s stock valued at $1,626,000 after purchasing an additional 79,564 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 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.