BNY Mellon High Yield Strategies Fund (NYSE:DHF) Stock Crosses Above Fifty Day Moving Average of $2.44

BNY Mellon High Yield Strategies Fund (NYSE:DHF) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $2.44 and traded as high as $2.55. BNY Mellon High Yield Strategies Fund shares last traded at $2.55, with a volume of 181,437 shares trading hands.

BNY Mellon High Yield Strategies Fund Price Performance

The company’s 50-day moving average is $2.44 and its two-hundred day moving average is $2.38.

BNY Mellon High Yield Strategies Fund Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th will be paid a dividend of $0.0175 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.21 annualized dividend and a dividend yield of 8.27%.

Institutional Investors Weigh In On BNY Mellon High Yield Strategies Fund

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its stake in BNY Mellon High Yield Strategies Fund by 143.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,517,264 shares of the investment management company’s stock valued at $6,067,000 after buying an additional 1,482,917 shares in the last quarter. 1607 Capital Partners LLC grew its stake 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 in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in BNY Mellon High Yield Strategies Fund by 28.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 421,068 shares of the investment management company’s stock valued at $1,015,000 after buying an additional 92,837 shares in the last quarter. Cetera Advisors LLC grew its stake in BNY Mellon High Yield Strategies Fund by 98.2% in the 1st quarter. Cetera Advisors LLC now owns 296,343 shares of the investment management company’s stock valued at $717,000 after buying an additional 146,818 shares in the last quarter. Finally, PFG Investments LLC purchased a new position in BNY Mellon High Yield Strategies Fund in the 1st quarter valued at approximately $251,000. Hedge funds and other institutional investors own 36.16% of the company’s stock.

BNY Mellon High Yield Strategies Fund Company Profile

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.