BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Short Interest Update

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) was the recipient of a significant drop in short interest in May. As of May 29th, there was short interest totaling 76,741 shares, a drop of 33.6% from the May 14th total of 115,543 shares. Based on an average daily trading volume, of 95,248 shares, the short-interest ratio is currently 0.8 days. Currently, 0.2% of the shares of the stock are short sold.

Institutional Trading of BNY Mellon Strategic Municipal Bond Fund

A number of hedge funds have recently added to or reduced their stakes in the stock. Saba Capital Management L.P. boosted its position 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 in the last quarter. Pathstone Holdings LLC lifted its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 2.1% during the third quarter. Pathstone Holdings LLC now owns 3,559,421 shares of the investment management company’s stock worth $21,072,000 after purchasing an additional 73,309 shares during the period. Bulldog Investors LLP lifted its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 2.0% during the first quarter. Bulldog Investors LLP now owns 3,373,942 shares of the investment management company’s stock worth $20,277,000 after purchasing an additional 65,851 shares during the period. Sit Investment Associates Inc. lifted its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 11.8% during the fourth quarter. Sit Investment Associates Inc. now owns 1,862,381 shares of the investment management company’s stock worth $11,491,000 after purchasing an additional 195,867 shares during the period. Finally, Rivernorth Capital Management LLC lifted its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 98.7% during the first quarter. Rivernorth Capital Management LLC now owns 1,660,357 shares of the investment management company’s stock worth $9,979,000 after purchasing an additional 824,765 shares during the period.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

Shares of BNY Mellon Strategic Municipal Bond Fund stock opened at $6.13 on Tuesday. BNY Mellon Strategic Municipal Bond Fund has a fifty-two week low of $5.45 and a fifty-two week high of $6.30. The company’s 50 day moving average price is $6.08 and its two-hundred day moving average price is $6.08.

BNY Mellon Strategic Municipal Bond Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, June 11th will be given a $0.03 dividend. This is an increase from BNY Mellon Strategic Municipal Bond Fund’s previous monthly dividend of $0.03. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Thursday, June 11th.

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.