BNY Mellon High Yield Strategies Fund Experiences Significant Decline in Short Interest

The BNY Mellon High Yield Strategies Fund (NYSE:DHF) saw a notable reduction in short interest throughout January. By January 31st, the total short interest had fallen to 99,600 shares, showcasing a decrease of 9.7% from the 110,300 shares reported on January 15th. With an average trading volume of 228,800 shares, the current days-to-cover ratio stands at 0.4 days.

Price Movement of BNY Mellon High Yield Strategies Fund

During mid-day trading on Monday, shares of DHF increased by $0.02, bringing the share price to $2.60. Approximately 107,768 shares were traded, which is slightly higher than the average trading volume of 199,092 shares. The fund has a 50-day simple moving average of $2.59 and a 200-day simple moving average of $2.59. In terms of stock performance over the past year, BNY Mellon High Yield Strategies Fund recorded a 52-week low of $2.27 and a 52-week high of $2.69.

Dividend Announcement from the Fund

The BNY Mellon High Yield Strategies Fund recently announced a monthly dividend set to be paid on Friday, February 21st. Shareholders who are on record by Thursday, February 6th will receive a dividend of $0.0175 per share. The ex-dividend date is also scheduled for February 6th. When calculated on an annual basis, this amounts to a $0.21 dividend, leading to a dividend yield of 8.09%.

Investor Activity in the Fund

Several hedge funds have recently adjusted their stakes in the BNY Mellon High Yield Strategies Fund. For instance, Hennion & Walsh Asset Management Inc. increased its investment in the fund by 41.1% in the third quarter, now holding 594,220 shares valued at $1,598,000 after acquiring an additional 173,152 shares in the previous quarter. Furthermore, Pathstone Holdings LLC raised its holdings by 36.9% during the same period and currently owns 5,561,508 shares worth approximately $14,961,000, after an additional purchase of 1,500,234 shares. Avior Wealth Management LLC also expanded its position by 51.2%, owning 74,503 shares valued at $200,000 following a purchase of 25,231 shares last quarter. Other investments include Walleye Capital LLC’s new position valued at $88,000 and Jane Street Group LLC, which increased its stake by 198.7% to now hold 38,519 shares valued at $104,000. Overall, institutional investors control about 36.16% of the company's stocks.

Overview of BNY Mellon High Yield Strategies Fund

The BNY Mellon High Yield Strategies Fund is a closed-end fixed-income mutual fund that is managed by BNY Mellon Investment Adviser, Inc. The fund primarily focuses on investing in the U.S. fixed income markets, specifically targeting fixed income securities that are rated below investment grade, which may include bonds from companies in early stages of development or those with highly leveraged financial structures.

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