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

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) saw a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 25,066 shares, a decrease of 43.9% from the June 30th total of 44,646 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 124,731 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in DSM. Thomas J. Herzfeld Advisors Inc. lifted its holdings in BNY Mellon Strategic Municipal Bond Fund by 0.7% during the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 341,091 shares of the investment management company’s stock valued at $2,105,000 after purchasing an additional 2,512 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 22.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,331 shares of the investment management company’s stock worth $95,000 after purchasing an additional 2,765 shares in the last quarter. Noble Wealth Management PBC raised its position in shares of BNY Mellon Strategic Municipal Bond Fund by 7.2% during the 2nd quarter. Noble Wealth Management PBC now owns 65,733 shares of the investment management company’s stock worth $404,000 after purchasing an additional 4,400 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of BNY Mellon Strategic Municipal Bond Fund by 1.2% during the 4th quarter. Wells Fargo & Company MN now owns 404,626 shares of the investment management company’s stock worth $2,497,000 after purchasing an additional 4,692 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in BNY Mellon Strategic Municipal Bond Fund by 15.9% in the 4th quarter. HighTower Advisors LLC now owns 42,452 shares of the investment management company’s stock valued at $262,000 after buying an additional 5,833 shares in the last quarter.

BNY Mellon Strategic Municipal Bond Fund Stock Down 0.6%

DSM traded down $0.03 during trading on Thursday, hitting $5.84. The company’s stock had a trading volume of 199,491 shares, compared to its average volume of 114,535. BNY Mellon Strategic Municipal Bond Fund has a twelve month low of $5.49 and a twelve month high of $6.30. The business’s fifty day simple moving average is $6.07 and its 200 day simple moving average is $6.08.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 14th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, July 14th. This represents a c) dividend on an annualized basis and a yield of 6.2%.

BNY Mellon Strategic Municipal Bond Fund Company Profile

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.