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

BNY Mellon High Yield Strategies Fund (NYSE:DHF) was the target of a large increase in short interest in August. As of August 14th, there was short interest totaling 93,580 shares, an increase of 132.3% from the July 30th total of 40,276 shares. Based on an average trading volume of 217,479 shares, the short-interest ratio is currently 0.4 days. Approximately 0.1% of the shares of the stock are short sold.

BNY Mellon High Yield Strategies Fund Stock Performance

NYSE DHF traded up $0.01 on Friday, reaching $2.36. The company’s stock had a trading volume of 98,585 shares, compared to its average volume of 313,104. BNY Mellon High Yield Strategies Fund has a 52 week low of $2.32 and a 52 week high of $2.63. The business has a 50-day moving average price of $2.39 and a 200 day moving average price of $2.41.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be paid a $0.0175 dividend. This represents a c) annualized dividend and a dividend yield of 8.9%. The ex-dividend date is Thursday, September 10th.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

Several hedge funds and other institutional investors have recently modified their holdings of DHF. Jane Street Group LLC increased its position in BNY Mellon High Yield Strategies Fund by 11.5% in the 4th quarter. Jane Street Group LLC now owns 72,470 shares of the investment management company’s stock valued at $180,000 after acquiring an additional 7,490 shares in the last quarter. Geneos Wealth Management Inc. lifted its position 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 worth $26,000 after purchasing an additional 8,337 shares in the last quarter. Citadel Advisors LLC lifted its position in shares of BNY Mellon High Yield Strategies Fund by 31.4% during the third quarter. Citadel Advisors LLC now owns 38,193 shares of the investment management company’s stock worth $99,000 after purchasing an additional 9,120 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of BNY Mellon High Yield Strategies Fund during the second quarter valued at approximately $26,000. Finally, World Investment Advisors bought a new stake in shares of BNY Mellon High Yield Strategies Fund during the fourth quarter valued at approximately $35,000. Institutional investors 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.