BNY Mellon High Yield Strategies Fund (NYSE:DHF) Stock Price Passes Above 50-Day Moving Average – Time to Sell?

BNY Mellon High Yield Strategies Fund (NYSE:DHF) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $2.60 and traded as high as $2.62. BNY Mellon High Yield Strategies Fund shares last traded at $2.61, with a volume of 174,555 shares trading hands.

BNY Mellon High Yield Strategies Fund Trading Down 0.6 %

The company’s fifty day moving average price is $2.60 and its two-hundred day moving average price is $2.58.

BNY Mellon High Yield Strategies Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, February 21st. Shareholders of record on Thursday, February 6th will be issued a $0.0175 dividend. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 8.09%.

Institutional Trading of BNY Mellon High Yield Strategies Fund

Institutional investors and hedge funds have recently made changes to their positions in the company. Pathstone Holdings LLC grew its position in BNY Mellon High Yield Strategies Fund by 36.9% during the third quarter. Pathstone Holdings LLC now owns 5,561,508 shares of the investment management company’s stock valued at $14,961,000 after acquiring an additional 1,500,234 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in shares of BNY Mellon High Yield Strategies Fund by 47.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 879,133 shares of the investment management company’s stock worth $2,242,000 after purchasing an additional 284,913 shares during the period. Truist Financial Corp acquired a new stake in BNY Mellon High Yield Strategies Fund during the 4th quarter worth approximately $168,000. Walleye Capital LLC acquired a new stake in BNY Mellon High Yield Strategies Fund during the 3rd quarter worth approximately $88,000. Finally, Jane Street Group LLC raised its holdings 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 valued at $104,000 after buying an additional 25,624 shares during the period. 36.16% of the stock is currently owned by institutional investors and hedge funds.

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.