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Sojan Joseph, a mental health nurse in the National Health Service (NHS) who migrated from Kerala 22 years ago, is among the new crop of Labour members of Parliament elected to the House of Commons in the UK general election this week...
NEW YORK , June 28, 2024 /PRNewswire/ -- Neuberger Berman High Yield Strategies Fund Inc. (NYSE American: NHS) (the "Fund") has announced a distribution declaration of $0.0905 per share of common stock. The distribution announced today is payable on July 31, 2024, has a record date of July 15, 2024, and has an ex-date of July 15, 2024.
NEW YORK , May 31, 2024 /PRNewswire/ -- Neuberger Berman High Yield Strategies Fund Inc. (NYSE American: NHS) (the "Fund") has announced a distribution declaration of $0.0905 per share of common stock. The distribution announced today is payable on June 28, 2024, has a record date of June 17, 2024, and has an ex-date of June 17, 2024.
Neuberger Berman High Yield Strategies offers a high yield of 14.46%, higher than other closed-end funds investing in junk bonds. The NHS closed-end fund's net asset value has been declining, raising concerns about the sustainability of its distribution. The NHS fund is doing a reasonably good job at protecting itself from default risk, which seems to be increasing with interest rates.
Neuberger Berman High Yield Strategies offers a remarkable 14.25% distribution yield but has underperformed over the past year due to rising interest rates. The fund primarily invests in junk bonds and aims to provide a high level of current income to investors. The fund employs leverage to boost its yield and total investment returns, but its use of leverage could increase volatility and risk.
NHS's 2023 rights offering results are in. The offering was oversubscribed, despite the slim discount to the market price. The "sell and rebuy" strategy worked once again.
Quick notes on Neuberger Berman High Yield Strategies' rights offering this year. Our suggestion is to sell before the ex-rights date and rebuy after the offering.
NHS is a fixed income closed end fund. The fund focuses on U.S. high yield bonds, which represent 88% of the portfolio.
NHS is a fixed income closed end fund. Over 88% of the fund holdings are fixed rate high yield bonds.