BNY Mellon High Yield Strategies Fund (NYSE:DHF) Stock Short Interest Report for September

BNY Mellon High Yield Strategies Fund (NYSE:DHF) saw a large increase in short interest in September. As of September 30th, there was short interest totaling 146,640 shares, an increase of 523.2% from the September 15th total of 23,529 shares. Based on an average daily trading volume, of 487,216 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.2% of the shares of the stock are sold short.

Insider Activity

In other BNY Mellon High Yield Strategies Fund news, Director Joseph S. Dimartino acquired 20,000 shares of BNY Mellon High Yield Strategies Fund stock in a transaction dated Thursday, September 24th. The stock was bought at an average cost of $2.22 per share, with a total value of $44,400.00. Following the acquisition, the director owned 240,000 shares of the company’s stock, valued at approximately $532,800. The trade was a 9.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 16.61% of the company’s stock.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

A number of hedge funds have recently modified their holdings of DHF. Hennion & Walsh Asset Management Inc. lifted its position in shares of BNY Mellon High Yield Strategies Fund by 17.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,872,844 shares of the investment management company’s stock worth $4,532,000 after buying an additional 275,168 shares during the period. Fermata Advisors LLC bought a new stake in BNY Mellon High Yield Strategies Fund in the second quarter valued at $42,000. Rivernorth Capital Management LLC grew its position in BNY Mellon High Yield Strategies Fund by 14.3% in the first quarter. Rivernorth Capital Management LLC now owns 366,828 shares of the investment management company’s stock valued at $895,000 after acquiring an additional 45,764 shares during the period. Bulldog Investors LLP acquired a new position in BNY Mellon High Yield Strategies Fund during the first quarter worth $700,000. Finally, World Investment Advisors acquired a new position in BNY Mellon High Yield Strategies Fund during the fourth quarter worth $35,000. 36.16% of the stock is owned by institutional investors and hedge funds.

BNY Mellon High Yield Strategies Fund Stock Performance

NYSE DHF traded up $0.01 on Friday, reaching $2.19. The company’s stock had a trading volume of 495,928 shares, compared to its average volume of 325,743. The business has a 50-day moving average price of $2.32 and a 200 day moving average price of $2.38. BNY Mellon High Yield Strategies Fund has a 52 week low of $2.12 and a 52 week high of $2.61.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Thursday, October 8th will be issued a dividend of $0.0175 per share. This represents a $0.21 dividend on an annualized basis and a yield of 9.6%. The ex-dividend date of this dividend is Thursday, October 8th.

About BNY Mellon High Yield Strategies Fund

BNY Mellon High Yield Strategies Fund (NYSE: DHF) is a closed-end investment fund that seeks to provide a high level of current income, with capital appreciation as a secondary objective. The fund invests primarily in high-yield corporate debt securities, commonly known as below-investment-grade or “junk” bonds.

Its portfolio may include a diversified range of fixed-income securities issued by companies in the United States and other markets. These investments generally carry greater credit and default risk than investment-grade bonds, but may offer higher income potential.