BNY Mellon High Yield Strategies Fund (NYSE:DHF) is a diversified, high-yield-focused closed-end fund. In our prior coverage, we compared the fund to the Credit Suisse High Yield Bond Fund (DHY), given its many similarities. We noted that DHF looked like the better value and had stronger distribution coverage—enough coverage that a raise seemed warranted. Well, that's exactly what happened: they increased their distribution since that update. The fund remains at a rather attractive discount and now sports a higher payout for its investors. Even more importantly, the new payout is still being covered based on their latest earnings.