Short Interest in BNY Mellon High Yield Strategies Fund (NYSE:DHF) Increases By 127.3%

BNY Mellon High Yield Strategies Fund (NYSE:DHF) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 110,700 shares, an increase of 127.3% from the December 15th total of 48,700 shares. Based on an average daily volume of 245,800 shares, the days-to-cover ratio is presently 0.5 days.

BNY Mellon High Yield Strategies Fund Stock Performance

Shares of DHF stock traded down $0.02 during mid-day trading on Thursday, reaching $2.60. The company’s stock had a trading volume of 152,401 shares, compared to its average volume of 143,668. The company’s 50 day simple moving average is $2.60 and its 200-day simple moving average is $2.56. BNY Mellon High Yield Strategies Fund has a 12-month low of $2.27 and a 12-month high of $2.69.

BNY Mellon High Yield Strategies Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, January 13th. Investors of record on Friday, December 27th were paid a dividend of $0.0175 per share. This represents a $0.21 annualized dividend and a yield of 8.09%. The ex-dividend date was Friday, December 27th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Freestate Advisors LLC bought a new stake in shares of BNY Mellon High Yield Strategies Fund in the 3rd quarter worth about $30,000. Choreo LLC bought a new position in shares of BNY Mellon High Yield Strategies Fund during the second quarter worth about $37,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in BNY Mellon High Yield Strategies Fund in the fourth quarter worth about $63,000. Walleye Capital LLC bought a new stake in BNY Mellon High Yield Strategies Fund in the third quarter valued at about $88,000. Finally, Jane Street Group LLC raised its stake in BNY Mellon High Yield Strategies Fund by 198.7% during 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 in the last quarter. Institutional investors and hedge funds own 36.16% of the company’s stock.

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.