BNY Mellon High Yield Strategies Fund (NYSE:DHF) Announces Monthly Dividend of $0.02

BNY Mellon High Yield Strategies Fund (NYSE:DHF) declared a monthly dividend on Thursday, October 22nd. Stockholders of record on Thursday, November 5th will be given a dividend of $0.0175 per share by the investment management company on Friday, November 20th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 9.6%. The ex-dividend date of this dividend is Thursday, November 5th.

BNY Mellon High Yield Strategies Fund Price Performance

Shares of NYSE:DHF traded down $0.01 during midday trading on Friday, reaching $2.19. The company’s stock had a trading volume of 94,348 shares, compared to its average volume of 327,305. BNY Mellon High Yield Strategies Fund has a 1 year low of $2.12 and a 1 year high of $2.59. The business has a 50 day moving average price of $2.28 and a 200 day moving average price of $2.37.

Insiders Place Their Bets

In other news, Director Joseph S. Dimartino acquired 20,000 shares of the stock in a transaction that occurred on Thursday, September 24th. The stock was purchased at an average cost of $2.22 per share, with a total value of $44,400.00. Following the completion of the acquisition, the director directly owned 240,000 shares in the company, valued at $532,800. This represents a 9.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 16.61% of the stock is currently owned by corporate insiders.

Institutional Trading of BNY Mellon High Yield Strategies Fund

Hedge funds have recently bought and sold shares of the company. Fermata Advisors LLC bought a new stake in shares of BNY Mellon High Yield Strategies Fund during the second quarter valued at about $42,000. Capital Investment Advisors LLC increased its stake in BNY Mellon High Yield Strategies Fund by 13.0% during the 3rd quarter. Capital Investment Advisors LLC now owns 225,755 shares of the investment management company’s stock valued at $501,000 after buying an additional 25,995 shares during the period. Curated Wealth Partners LLC bought a new stake in shares of BNY Mellon High Yield Strategies Fund during the 3rd quarter worth about $47,000. Hennion & Walsh Asset Management Inc. raised 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 in the last quarter. Finally, Rivernorth Capital Management LLC lifted its stake in shares of BNY Mellon High Yield Strategies Fund by 14.3% in the 1st quarter. Rivernorth Capital Management LLC now owns 366,828 shares of the investment management company’s stock worth $895,000 after acquiring an additional 45,764 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 (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.