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 growth in short interest in January. As of January 15th, there was short interest totalling 110,700 shares, a growth of 127.3% from the December 31st total of 48,700 shares. Based on an average daily volume of 245,800 shares, the days-to-cover ratio is currently 0.5 days.

BNY Mellon High Yield Strategies Fund Price Performance

DHF stock traded up $0.02 during mid-day trading on Friday, reaching $2.61. 54,646 shares of the stock traded hands, compared to its average volume of 164,931. BNY Mellon High Yield Strategies Fund has a 52-week low of $2.27 and a 52-week high of $2.69. The stock’s fifty day moving average is $2.60 and its 200-day moving average is $2.58.

BNY Mellon High Yield Strategies Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 21st. Investors of record on Thursday, February 6th will be given a $0.0175 dividend. The ex-dividend date is Thursday, February 6th. This represents a $0.21 annualized dividend and a dividend yield of 8.06%.

Hedge Funds Weigh In On BNY Mellon High Yield Strategies Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. J.W. Cole Advisors Inc. bought a new stake in shares of BNY Mellon High Yield Strategies Fund in the 4th quarter valued at approximately $30,000. Melfa Wealth Management Inc. raised its holdings in BNY Mellon High Yield Strategies Fund by 16.0% during the fourth quarter. Melfa Wealth Management Inc. now owns 141,330 shares of the investment management company’s stock valued at $360,000 after buying an additional 19,500 shares in the last quarter. Park Avenue Securities LLC lifted its position in shares of BNY Mellon High Yield Strategies Fund by 4.7% in the fourth quarter. Park Avenue Securities LLC now owns 417,269 shares of the investment management company’s stock worth $1,064,000 after buying an additional 18,579 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake 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 acquiring an additional 284,913 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of BNY Mellon High Yield Strategies Fund during the 4th quarter valued at about $63,000. 36.16% of the stock is currently owned by hedge funds and other institutional investors.

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.