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

BNY Mellon High Yield Strategies Fund (NYSE:DHF) saw a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 86,000 shares, a growth of 97.7% from the November 15th total of 43,500 shares. Based on an average trading volume of 350,600 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Jane Street Group LLC increased its holdings in BNY Mellon High Yield Strategies Fund by 198.7% during the 3rd quarter. Jane Street Group LLC now owns 38,519 shares of the investment management company’s stock worth $104,000 after acquiring an additional 25,624 shares during the period. Walleye Capital LLC purchased a new position in shares of BNY Mellon High Yield Strategies Fund in the 3rd quarter worth about $88,000. Avior Wealth Management LLC boosted its stake in BNY Mellon High Yield Strategies Fund by 51.2% in the third quarter. Avior Wealth Management LLC now owns 74,503 shares of the investment management company’s stock worth $200,000 after buying an additional 25,231 shares in the last quarter. Pathstone Holdings LLC boosted its stake in shares of BNY Mellon High Yield Strategies Fund by 36.9% in the 3rd quarter. Pathstone Holdings LLC now owns 5,561,508 shares of the investment management company’s stock valued at $14,961,000 after purchasing an additional 1,500,234 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in BNY Mellon High Yield Strategies Fund by 41.1% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 594,220 shares of the investment management company’s stock worth $1,598,000 after acquiring an additional 173,152 shares during the last quarter. 36.16% of the stock is currently owned by hedge funds and other institutional investors.

BNY Mellon High Yield Strategies Fund Trading Down 1.0 %

Shares of BNY Mellon High Yield Strategies Fund stock traded down $0.02 during trading hours on Thursday, hitting $2.60. 281,381 shares of the company’s stock traded hands, compared to its average volume of 333,892. The company has a fifty day simple moving average of $2.61 and a 200-day simple moving average of $2.54. BNY Mellon High Yield Strategies Fund has a 12-month low of $2.23 and a 12-month high of $2.69.

BNY Mellon High Yield Strategies Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.0175 dividend. This represents a $0.21 dividend on an annualized basis and a yield of 8.09%. The ex-dividend date is Friday, December 6th.

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.