BNY Mellon High Yield Strategies Fund (NYSE:DHF) Stock Price Passes Above Fifty Day Moving Average – What’s Next?

BNY Mellon High Yield Strategies Fund (NYSE:DHF)’s share price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $2.42 and traded as high as $2.42. BNY Mellon High Yield Strategies Fund shares last traded at $2.4150, with a volume of 75,238 shares changing hands.

BNY Mellon High Yield Strategies Fund Stock Up 0.2%

The business’s 50 day moving average price is $2.42 and its 200-day moving average price is $2.46.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be paid a $0.0175 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a c) dividend on an annualized basis and a yield of 8.7%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. boosted its holdings in 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. bought a new position in shares of BNY Mellon High Yield Strategies Fund during the 2nd quarter worth approximately $26,000. Avior Wealth Management LLC bought a new position in shares of BNY Mellon High Yield Strategies Fund during the 4th quarter worth approximately $28,000. Integrity Advisory Solutions LLC acquired a new stake in BNY Mellon High Yield Strategies Fund in the 3rd quarter valued at $28,000. Finally, Sentinel Pension Advisors LLC bought a new stake in BNY Mellon High Yield Strategies Fund in the fourth quarter valued at $33,000. Institutional investors own 36.16% of the company’s stock.

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.