Short Interest in BNY Mellon High Yield Strategies Fund (NYSE:DHF) Declines By 59.8%

BNY Mellon High Yield Strategies Fund (NYSE:DHF) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 53,600 shares, a drop of 59.8% from the October 15th total of 133,200 shares. Based on an average daily volume of 353,200 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of BNY Mellon High Yield Strategies Fund

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

BNY Mellon High Yield Strategies Fund Stock Performance

Shares of DHF stock traded up $0.02 during mid-day trading on Friday, hitting $2.58. The company’s stock had a trading volume of 270,734 shares, compared to its average volume of 339,874. BNY Mellon High Yield Strategies Fund has a 52 week low of $2.20 and a 52 week high of $2.69. The company’s fifty day simple moving average is $2.59 and its 200-day simple moving average is $2.50.

BNY Mellon High Yield Strategies Fund Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Wednesday, November 6th will be issued a $0.0175 dividend. This represents a $0.21 dividend on an annualized basis and a yield of 8.16%. The ex-dividend date of this dividend is Wednesday, November 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.