BNY Mellon High Yield Strategies Fund (NYSE:DHF) Sees Significant Increase in Short Interest

BNY Mellon High Yield Strategies Fund (NYSE:DHF) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 110,700 shares, a growth of 127.3% from the December 15th total of 48,700 shares. Based on an average trading volume of 245,800 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

A number of institutional investors have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. lifted its holdings in BNY Mellon High Yield Strategies Fund by 47.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 879,133 shares of the investment management company’s stock worth $2,242,000 after buying an additional 284,913 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in BNY Mellon High Yield Strategies Fund in the fourth quarter valued at about $63,000. Park Avenue Securities LLC increased its position in BNY Mellon High Yield Strategies Fund by 4.7% in the fourth quarter. Park Avenue Securities LLC now owns 417,269 shares of the investment management company’s stock worth $1,064,000 after purchasing an additional 18,579 shares during the period. Jane Street Group LLC raised its holdings in BNY Mellon High Yield Strategies Fund by 198.7% during the 3rd quarter. Jane Street Group LLC now owns 38,519 shares of the investment management company’s stock worth $104,000 after purchasing an additional 25,624 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in BNY Mellon High Yield Strategies Fund during the 3rd quarter valued at about $88,000. 36.16% of the stock is owned by institutional investors.

BNY Mellon High Yield Strategies Fund Trading Down 0.2 %

DHF stock traded down $0.01 during midday trading on Thursday, reaching $2.61. 202,018 shares of the company’s stock traded hands, compared to its average volume of 148,802. The company has a 50-day simple moving average of $2.60 and a two-hundred day simple moving average of $2.56. BNY Mellon High Yield Strategies Fund has a 1-year low of $2.27 and a 1-year high of $2.69.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, January 13th. Shareholders of record on Friday, December 27th were issued a dividend of $0.0175 per share. This represents a $0.21 dividend on an annualized basis and a yield of 8.06%. The ex-dividend date was Friday, December 27th.

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.