BNY Mellon High Yield Strategies Fund (NYSE:DHF) Sees Significant Drop in Short Interest

The BNY Mellon High Yield Strategies Fund (NYSE:DHF) experienced a noteworthy decline in short interest throughout January. By the end of the month on January 31st, the total short interest had fallen to 99,600 shares, marking a significant decrease of 9.7% compared to the 110,300 shares reported on January 15th. Given an average trading volume of 228,800 shares, the current days-to-cover ratio stands at 0.4 days.

Recent Price Movements of BNY Mellon High Yield Strategies Fund

On Monday, shares of the DHF fund rose by $0.02, reaching a mid-day price of $2.60. During this trading session, approximately 107,768 shares changed hands, which is above the fund's average trading volume of 199,092 shares. Over the last 50 days, the stock has maintained a simple moving average of $2.59, with a 200-day simple moving average also at $2.59. The fund's stock has seen a 52-week low of $2.27 and a high of $2.69.

Dividend Announcement by BNY Mellon High Yield Strategies Fund

The fund has also declared a monthly dividend, set to be distributed on Friday, February 21st. Shareholders on record by Thursday, February 6th will receive a dividend of $0.0175 per share. The ex-dividend date is also on Thursday, February 6th. Annually, this translates to a total dividend of $0.21 per share, resulting in a yield of 8.09%.

Hedge Fund Activity Around BNY Mellon High Yield Strategies Fund

Several hedge funds have recently adjusted their holdings in the BNY Mellon High Yield Strategies Fund. Hennion & Walsh Asset Management Inc. increased its stake by 41.1% in the third quarter, now owning 594,220 shares valued at $1,598,000, following the purchase of an additional 173,152 shares. Pathstone Holdings LLC also boosted its position by 36.9% during the same quarter, bringing its total to 5,561,508 shares valued at $14,961,000 after adding 1,500,234 shares. Avior Wealth Management LLC grew its investment in DHF by 51.2%, now holding 74,503 shares worth $200,000 after acquiring an additional 25,231 shares. Additionally, Walleye Capital LLC took a new position in the fund during the third quarter with an investment amounting to $88,000. Finally, Jane Street Group LLC raised its position by an impressive 198.7% during this period and now owns 38,519 shares worth $104,000 after adding 25,624 shares. Overall, institutional investors hold 36.16% of the BNY Mellon High Yield Strategies Fund's stock.

Company Overview of BNY Mellon High Yield Strategies Fund

The BNY Mellon High Yield Strategies Fund is a closed-end fixed income mutual fund managed by BNY Mellon Investment Adviser, Inc. The fund primarily invests in the fixed income markets within the United States, focusing on fixed-income securities rated below investment grade, including those from companies in early development stages and those with high leverage.

Conclusion

This reduction in short interest, combined with recent trading activity and hedge fund investments, reflects the ongoing interest in the BNY Mellon High Yield Strategies Fund amid fluctuating market conditions.

BNY, Fund, Short