Neuberger Berman High Yield Strateges Fd (NYSEAMERICAN:NHS) shares were up 10.2% on Wednesday following insider buying activity. The company traded as high as $8.49 and last traded at $8.22, approximately 179,527 shares were traded during mid-day trading. An increase of 85% from the average daily volume of 96,907 shares. The stock had previously closed at $7.46.
Specifically, major shareholder Saba Capital Management, L.P. purchased 5,352 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The stock was bought at an average price of $8.14 per share, with a total value of $43,565.28. In the last three months, insiders bought 278,232 shares of company stock valued at $2,669,555.
The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid a $0.0905 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.09 annualized dividend and a dividend yield of 13.21%.
About Neuberger Berman High Yield Strateges Fd (NYSEAMERICAN:NHS)
Neuberger Berman High Yield Strategies Fund Inc is a closed-ended fixed income mutual fund launched by Neuberger Berman LLC. The fund is managed by Neuberger Berman Investment Advisers LLC. It invests in fixed income markets across the globe. The fund typically invests in high yield debt securities of various sectors, such as auto parts and equipment, airlines, automotive, electronics, health services, packaging, telecom-integrated/services, gaming, and gas distribution.
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