BNY Mellon High Yield Strategies Fund (NYSE:DHF) Shares Pass Below 50-Day Moving Average of $2.35

BNY Mellon High Yield Strategies Fund (NYSE:DHF) shares crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $2.35 and traded as low as $2.30. BNY Mellon High Yield Strategies Fund shares last traded at $2.32, with a volume of 139,193 shares changing hands.

BNY Mellon High Yield Strategies Fund Price Performance

The stock’s fifty day moving average is $2.35 and its 200-day moving average is $2.28.

BNY Mellon High Yield Strategies Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.018 per share. This represents a $0.22 annualized dividend and a dividend yield of 9.31%. The ex-dividend date is Tuesday, April 9th. This is a boost from BNY Mellon High Yield Strategies Fund’s previous monthly dividend of $0.02.

Institutional Trading of BNY Mellon High Yield Strategies Fund

Hedge funds have recently made changes to their positions in the business. Blue Bell Private Wealth Management LLC acquired a new stake in shares of BNY Mellon High Yield Strategies Fund during the fourth quarter worth about $49,000. Ironsides Asset Advisors LLC lifted its position in shares of BNY Mellon High Yield Strategies Fund by 36.2% during the third quarter. Ironsides Asset Advisors LLC now owns 26,159 shares of the investment management company’s stock worth $56,000 after purchasing an additional 6,956 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in BNY Mellon High Yield Strategies Fund in the fourth quarter valued at approximately $94,000. Hennion & Walsh Asset Management Inc. acquired a new stake in BNY Mellon High Yield Strategies Fund in the third quarter valued at approximately $134,000. Finally, PFG Investments LLC acquired a new stake in BNY Mellon High Yield Strategies Fund in the first quarter valued at approximately $251,000. Institutional investors and hedge funds 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.