BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Shares Pass Below Fifty Day Moving Average – Here’s What Happened

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)’s stock price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $6.16 and traded as low as $6.05. BNY Mellon Strategic Municipal Bond Fund shares last traded at $6.0650, with a volume of 46,025 shares trading hands.

BNY Mellon Strategic Municipal Bond Fund Trading Down 0.1%

The firm has a fifty day moving average price of $6.16 and a 200 day moving average price of $6.01.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 12th will be given a dividend of $0.026 per share. This represents a c) annualized dividend and a yield of 5.1%. The ex-dividend date is Thursday, March 12th.

Hedge Funds Weigh In On BNY Mellon Strategic Municipal Bond Fund

A number of institutional investors have recently bought and sold shares of DSM. Thomas J. Herzfeld Advisors Inc. increased its holdings in BNY Mellon Strategic Municipal Bond Fund by 0.7% during the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 341,091 shares of the investment management company’s stock worth $2,105,000 after purchasing an additional 2,512 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 22.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 15,331 shares of the investment management company’s stock valued at $95,000 after buying an additional 2,765 shares during the period. Riverbridge Partners LLC boosted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 2.9% in the 3rd quarter. Riverbridge Partners LLC now owns 164,586 shares of the investment management company’s stock valued at $974,000 after buying an additional 4,612 shares during the period. Wells Fargo & Company MN grew its position in shares of BNY Mellon Strategic Municipal Bond Fund by 1.2% during the fourth quarter. Wells Fargo & Company MN now owns 404,626 shares of the investment management company’s stock worth $2,497,000 after buying an additional 4,692 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in shares of BNY Mellon Strategic Municipal Bond Fund by 15.9% during the fourth quarter. HighTower Advisors LLC now owns 42,452 shares of the investment management company’s stock worth $262,000 after buying an additional 5,833 shares in the last quarter.

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.