BNY Mellon High Yield Strategies Fund (NYSE:DHF) Short Interest Down 57.9% in June

BNY Mellon High Yield Strategies Fund (NYSE:DHF) saw a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 47,400 shares, a decrease of 57.9% from the May 31st total of 112,700 shares. Based on an average daily volume of 294,300 shares, the days-to-cover ratio is currently 0.2 days.

BNY Mellon High Yield Strategies Fund Stock Performance

Shares of DHF stock remained flat at $2.41 on Friday. 503,639 shares of the company traded hands, compared to its average volume of 355,762. BNY Mellon High Yield Strategies Fund has a 1-year low of $2.06 and a 1-year high of $2.46. The firm’s fifty day moving average price is $2.39 and its two-hundred day moving average price is $2.35.

BNY Mellon High Yield Strategies Fund Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th will be given a $0.0175 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 8.71%.

Institutional Trading of BNY Mellon High Yield Strategies Fund

Several large investors have recently made changes to their positions in the stock. Cetera Advisors LLC lifted its position in BNY Mellon High Yield Strategies Fund by 98.2% during the 1st quarter. Cetera Advisors LLC now owns 296,343 shares of the investment management company’s stock worth $717,000 after acquiring an additional 146,818 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of BNY Mellon High Yield Strategies Fund by 50.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 328,231 shares of the investment management company’s stock worth $794,000 after purchasing an additional 109,707 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in BNY Mellon High Yield Strategies Fund during the 1st quarter valued at approximately $2,503,000. Nomura Holdings Inc. acquired a new stake in BNY Mellon High Yield Strategies Fund in the 4th quarter valued at approximately $94,000. Finally, 1607 Capital Partners LLC grew its holdings in BNY Mellon High Yield Strategies Fund by 12.6% in the 4th quarter. 1607 Capital Partners LLC now owns 709,874 shares of the investment management company’s stock valued at $1,626,000 after buying an additional 79,564 shares during the last quarter. Institutional investors own 36.16% of the company’s stock.

About BNY Mellon High Yield Strategies Fund

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.