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

BNY Mellon High Yield Strategies Fund (NYSE:DHF) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 164,800 shares, a growth of 119.1% from the September 15th total of 75,200 shares. Based on an average daily trading volume, of 337,200 shares, the short-interest ratio is currently 0.5 days.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

Several institutional investors have recently modified their holdings of the business. Freestate Advisors LLC bought a new stake in BNY Mellon High Yield Strategies Fund in the 3rd quarter valued at $30,000. Choreo LLC bought a new stake in shares of BNY Mellon High Yield Strategies Fund in the second quarter valued at about $37,000. Allspring Global Investments Holdings LLC boosted its position in shares of BNY Mellon High Yield Strategies Fund by 143.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,517,264 shares of the investment management company’s stock worth $6,067,000 after buying an additional 1,482,917 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in shares of BNY Mellon High Yield Strategies Fund by 28.3% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 421,068 shares of the investment management company’s stock worth $1,015,000 after buying an additional 92,837 shares in the last quarter. Finally, Cetera Advisors LLC grew its holdings in shares of BNY Mellon High Yield Strategies Fund by 98.2% during the first quarter. Cetera Advisors LLC now owns 296,343 shares of the investment management company’s stock worth $717,000 after buying an additional 146,818 shares in the last quarter. Institutional investors own 36.16% of the company’s stock.

BNY Mellon High Yield Strategies Fund Price Performance

Shares of DHF traded down $0.06 during trading hours on Friday, reaching $2.60. The stock had a trading volume of 214,121 shares, compared to its average volume of 349,422. BNY Mellon High Yield Strategies Fund has a 52 week low of $2.06 and a 52 week high of $2.69. The firm has a 50-day moving average of $2.56 and a 200 day moving average of $2.46.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Tuesday, October 8th will be given a dividend of $0.0175 per share. This represents a $0.21 dividend on an annualized basis and a dividend yield of 8.08%. The ex-dividend date of this dividend is Tuesday, October 8th.

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.