BNY Mellon High Yield Strategies Fund (NYSE:DHF) Short Interest Down 37.2% in February

BNY Mellon High Yield Strategies Fund (NYSE:DHF) was the recipient of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 62,500 shares, a drop of 37.2% from the January 31st total of 99,600 shares. Based on an average trading volume of 238,400 shares, the days-to-cover ratio is presently 0.3 days.

BNY Mellon High Yield Strategies Fund Stock Down 0.6 %

Shares of DHF traded down $0.02 during mid-day trading on Monday, hitting $2.59. 484,875 shares of the company traded hands, compared to its average volume of 233,064. The stock has a 50-day moving average price of $2.59 and a two-hundred day moving average price of $2.59. 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 Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.0175 per share. The ex-dividend date is Tuesday, March 11th. This represents a $0.21 dividend on an annualized basis and a yield of 8.12%.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

Several hedge funds and other institutional investors have recently modified their holdings of the company. 1607 Capital Partners LLC increased its position in BNY Mellon High Yield Strategies Fund by 84.7% during the fourth quarter. 1607 Capital Partners LLC now owns 713,713 shares of the investment management company’s stock valued at $1,820,000 after acquiring an additional 327,361 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of BNY Mellon High Yield Strategies Fund by 1.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 439,598 shares of the investment management company’s stock valued at $1,121,000 after purchasing an additional 6,210 shares during the period. LPL Financial LLC increased its position in shares of BNY Mellon High Yield Strategies Fund by 30.0% during the 4th quarter. LPL Financial LLC now owns 339,504 shares of the investment management company’s stock valued at $866,000 after purchasing an additional 78,294 shares during the last quarter. Truist Financial Corp bought a new position in shares of BNY Mellon High Yield Strategies Fund in the 4th quarter worth approximately $168,000. Finally, J.W. Cole Advisors Inc. purchased a new position in shares of BNY Mellon High Yield Strategies Fund in the fourth quarter worth approximately $30,000. 36.16% of the stock is owned by institutional investors.

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.