BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Sees Large Increase in Short Interest

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) saw a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 36,610 shares, a growth of 19.6% from the February 12th total of 30,614 shares. Based on an average trading volume of 103,102 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the company’s shares are sold short. Currently, 0.1% of the company’s shares are sold short. Based on an average trading volume of 103,102 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

Several institutional investors have recently modified their holdings of the company. Saba Capital Management L.P. increased its holdings in BNY Mellon Strategic Municipal Bond Fund by 0.5% in the fourth quarter. Saba Capital Management L.P. now owns 5,179,441 shares of the investment management company’s stock valued at $31,957,000 after buying an additional 26,850 shares during the last quarter. Pathstone Holdings LLC boosted its position in shares of BNY Mellon Strategic Municipal Bond Fund by 2.1% during the 3rd quarter. Pathstone Holdings LLC now owns 3,559,421 shares of the investment management company’s stock worth $21,072,000 after acquiring an additional 73,309 shares in the last quarter. Bulldog Investors LLP increased its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 26.0% in the 4th quarter. Bulldog Investors LLP now owns 3,308,091 shares of the investment management company’s stock valued at $20,411,000 after acquiring an additional 683,653 shares during the last quarter. Sit Investment Associates Inc. raised its position in shares of BNY Mellon Strategic Municipal Bond Fund by 11.8% during the 4th quarter. Sit Investment Associates Inc. now owns 1,862,381 shares of the investment management company’s stock worth $11,491,000 after acquiring an additional 195,867 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its stake in BNY Mellon Strategic Municipal Bond Fund by 29.0% during the fourth quarter. Guggenheim Capital LLC now owns 1,239,418 shares of the investment management company’s stock worth $7,647,000 after purchasing an additional 278,303 shares during the last quarter.

BNY Mellon Strategic Municipal Bond Fund Stock Up 0.2%

NYSE:DSM traded up $0.01 on Tuesday, reaching $6.02. 48,187 shares of the company’s stock were exchanged, compared to its average volume of 94,967. BNY Mellon Strategic Municipal Bond Fund has a 52-week low of $5.28 and a 52-week high of $6.30. The business has a fifty day moving average of $6.15 and a 200-day moving average of $6.03.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 12th will be given a dividend of $0.026 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%.

About BNY Mellon Strategic Municipal Bond Fund

BNY Mellon Strategic Municipal Bond Fund Inc (NYSE: DSM) is a closed-end, diversified management investment company sponsored by The Bank of New York Mellon Corporation. Launched in 2007, DSM is listed on the New York Stock Exchange and offers investors access to a professionally managed portfolio of municipal debt securities. As a publicly traded fund, DSM combines the liquidity of the secondary market with the long-term investment horizon of a mutual fund structure.

The fund’s primary objective is to provide current income exempt from federal income tax.