BNY Mellon High Yield Strategies Fund (NYSE:DHF) Sees Large Growth in Short Interest

BNY Mellon High Yield Strategies Fund (NYSE:DHF) was the target of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 93,802 shares, an increase of 171.2% from the May 14th total of 34,593 shares. Based on an average daily volume of 217,292 shares, the short-interest ratio is currently 0.4 days. Currently, 0.1% of the company’s shares are short sold.

BNY Mellon High Yield Strategies Fund Stock Performance

Shares of BNY Mellon High Yield Strategies Fund stock traded up $0.02 during trading hours on Friday, hitting $2.42. The company’s stock had a trading volume of 289,675 shares, compared to its average volume of 320,777. BNY Mellon High Yield Strategies Fund has a twelve month low of $2.33 and a twelve month high of $2.63. The firm has a fifty day moving average of $2.42 and a 200-day moving average of $2.46.

BNY Mellon High Yield Strategies Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be issued a $0.0175 dividend. This represents a c) annualized dividend and a dividend yield of 8.7%. The ex-dividend date is Friday, June 5th.

Institutional Investors Weigh In On BNY Mellon High Yield Strategies Fund

Several large investors have recently bought and sold shares of the stock. Park Avenue Securities LLC increased its holdings in BNY Mellon High Yield Strategies Fund by 1.2% during the 4th quarter. Park Avenue Securities LLC now owns 418,045 shares of the investment management company’s stock worth $1,037,000 after purchasing an additional 5,065 shares during the period. Jane Street Group LLC increased its holdings in BNY Mellon High Yield Strategies Fund by 11.5% during the 4th quarter. Jane Street Group LLC now owns 72,470 shares of the investment management company’s stock worth $180,000 after purchasing an additional 7,490 shares during the period. Geneos Wealth Management Inc. increased its holdings in BNY Mellon High Yield Strategies Fund by 493.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 10,025 shares of the investment management company’s stock worth $26,000 after purchasing an additional 8,337 shares during the period. Citadel Advisors LLC increased its holdings in BNY Mellon High Yield Strategies Fund by 31.4% during the 3rd quarter. Citadel Advisors LLC now owns 38,193 shares of the investment management company’s stock worth $99,000 after purchasing an additional 9,120 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new stake in BNY Mellon High Yield Strategies Fund during the 2nd quarter worth about $26,000. Hedge funds and other institutional investors own 36.16% of the company’s stock.

About BNY Mellon High Yield Strategies Fund

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.