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

BNY Mellon High Yield Strategies Fund (NYSE:DHF) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 74,000 shares, an increase of 70.9% from the February 28th total of 43,300 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily volume of 273,100 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Focus Partners Wealth bought a new position in BNY Mellon High Yield Strategies Fund in the 4th quarter valued at $28,000. J.W. Cole Advisors Inc. bought a new position in BNY Mellon High Yield Strategies Fund in the 4th quarter worth about $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of BNY Mellon High Yield Strategies Fund during the fourth quarter worth approximately $63,000. Walleye Capital LLC purchased a new stake in shares of BNY Mellon High Yield Strategies Fund in the third quarter valued at approximately $88,000. Finally, Jane Street Group LLC grew its stake in BNY Mellon High Yield Strategies Fund by 198.7% in the third quarter. Jane Street Group LLC now owns 38,519 shares of the investment management company’s stock worth $104,000 after purchasing an additional 25,624 shares in the last quarter. Institutional investors own 36.16% of the company’s stock.

BNY Mellon High Yield Strategies Fund Stock Performance

NYSE:DHF opened at $2.53 on Monday. The stock’s fifty day moving average is $2.58 and its 200 day moving average is $2.59. BNY Mellon High Yield Strategies Fund has a fifty-two week low of $2.27 and a fifty-two week high of $2.69.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Wednesday, April 9th will be given a dividend of $0.0175 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $0.21 annualized dividend and a dividend yield of 8.32%.

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.