BNY Mellon High Yield Strategies Fund (NYSE:DHF) Stock Crosses Above 50 Day Moving Average – Should You Sell?

BNY Mellon High Yield Strategies Fund (NYSE:DHF)’s share price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $2.42 and traded as high as $2.46. BNY Mellon High Yield Strategies Fund shares last traded at $2.4250, with a volume of 588,985 shares traded.

BNY Mellon High Yield Strategies Fund Stock Performance

The company’s 50-day moving average price is $2.42 and its 200-day moving average price is $2.49.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th will be given a dividend of $0.0175 per share. This represents a c) annualized dividend and a dividend yield of 8.7%. The ex-dividend date of this dividend is Thursday, May 7th.

Institutional Investors Weigh In On BNY Mellon High Yield Strategies Fund

Several institutional investors have recently modified their holdings of the company. Pathstone Holdings LLC lifted its position in shares of BNY Mellon High Yield Strategies Fund by 21.6% during the 3rd quarter. Pathstone Holdings LLC now owns 6,553,950 shares of the investment management company’s stock worth $16,975,000 after purchasing an additional 1,162,574 shares during the last quarter. Sit Investment Associates Inc. lifted its position in shares of BNY Mellon High Yield Strategies Fund by 1.4% during the 4th quarter. Sit Investment Associates Inc. now owns 3,543,326 shares of the investment management company’s stock worth $8,787,000 after purchasing an additional 47,342 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of BNY Mellon High Yield Strategies Fund by 5.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,485,373 shares of the investment management company’s stock worth $3,684,000 after purchasing an additional 81,825 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of BNY Mellon High Yield Strategies Fund by 74.4% during the 4th quarter. Advisors Asset Management Inc. now owns 1,148,316 shares of the investment management company’s stock worth $2,848,000 after purchasing an additional 489,761 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of BNY Mellon High Yield Strategies Fund by 12.1% during the 2nd quarter. Invesco Ltd. now owns 1,009,240 shares of the investment management company’s stock worth $2,624,000 after purchasing an additional 109,246 shares during the last quarter. 36.16% of the stock is owned by hedge funds and other institutional investors.

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.