BNY Mellon High Yield Strategies Fund (NYSE:DHF) Shares Pass Below 50 Day Moving Average – Here’s What Happened

BNY Mellon High Yield Strategies Fund (NYSE:DHF)’s stock price crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $2.51 and traded as low as $2.35. BNY Mellon High Yield Strategies Fund shares last traded at $2.3750, with a volume of 369,524 shares trading hands.

BNY Mellon High Yield Strategies Fund Price Performance

The business’s 50-day simple moving average is $2.51 and its two-hundred day simple moving average is $2.54.

BNY Mellon High Yield Strategies Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 10th will be issued a dividend of $0.0175 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a c) annualized dividend and a dividend yield of 8.8%.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

Institutional investors and hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. boosted its stake in shares of BNY Mellon High Yield Strategies Fund by 493.9% during the first quarter. Geneos Wealth Management Inc. now owns 10,025 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 8,337 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of BNY Mellon High Yield Strategies Fund in the second quarter valued at approximately $26,000. Avior Wealth Management LLC bought a new position in BNY Mellon High Yield Strategies Fund in the 4th quarter valued at approximately $28,000. Integrity Advisory Solutions LLC bought a new position in BNY Mellon High Yield Strategies Fund in the 3rd quarter valued at approximately $28,000. Finally, J.W. Cole Advisors Inc. acquired a new stake in BNY Mellon High Yield Strategies Fund during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 36.16% of the company’s stock.

BNY Mellon High Yield Strategies Fund Company Profile

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.