BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Shares Shorted: Short Interest Up 51.0% in September

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 80,661 shares, an increase of 51.0% from the August 31st total of 53,403 shares. Based on an average daily volume of 94,628 shares, the short-interest ratio is currently 0.9 days. Currently, 0.2% of the shares of the company are short sold.

Institutional Trading of BNY Mellon Strategic Municipal Bond Fund

Several hedge funds have recently bought and sold shares of DSM. Robinson Capital Management LLC grew its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 9.8% in the second quarter. Robinson Capital Management LLC now owns 467,193 shares of the investment management company’s stock valued at $2,878,000 after purchasing an additional 41,717 shares in the last quarter. Readystate Asset Management LP bought a new stake in BNY Mellon Strategic Municipal Bond Fund in the second quarter worth about $88,000. Rivernorth Capital Management LLC lifted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 15.7% during the 2nd quarter. Rivernorth Capital Management LLC now owns 1,920,587 shares of the investment management company’s stock worth $11,812,000 after acquiring an additional 260,230 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 1.6% during the second quarter. Van ECK Associates Corp now owns 423,652 shares of the investment management company’s stock valued at $2,605,000 after purchasing an additional 6,849 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its stake in BNY Mellon Strategic Municipal Bond Fund by 87.7% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,476,212 shares of the investment management company’s stock worth $9,079,000 after acquiring an additional 689,844 shares in the last quarter.

BNY Mellon Strategic Municipal Bond Fund Stock Down 0.5%

DSM stock traded down $0.03 during midday trading on Thursday, reaching $5.18. 714,868 shares of the company’s stock traded hands, compared to its average volume of 116,402. BNY Mellon Strategic Municipal Bond Fund has a 52-week low of $5.07 and a 52-week high of $6.30. The stock’s 50-day moving average is $5.70 and its 200 day moving average is $5.93.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th will be issued a $0.03 dividend. This represents a $0.36 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend is Wednesday, October 14th.

BNY Mellon Strategic Municipal Bond Fund Company Profile

BNY Mellon Strategic Municipal Bond Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol DSM. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in municipal bonds and other municipal obligations.

The fund’s portfolio may include debt issued by states, cities, counties, and other governmental entities, as well as related public authorities. These securities generally finance public infrastructure and essential services, including schools, transportation systems, utilities, and healthcare facilities.