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

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) was the target of a large decrease in short interest in 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. Based on an average daily trading volume, of 124,731 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

Institutional investors have recently bought and sold shares of the stock. Cerity Partners LLC acquired a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 2nd quarter worth approximately $56,000. Nomura Holdings Inc. acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the third quarter valued at approximately $74,000. BOKF NA bought a new stake in BNY Mellon Strategic Municipal Bond Fund during the fourth quarter worth approximately $79,000. Janney Montgomery Scott LLC raised its holdings in 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. Finally, Novak & Powell Financial Services Inc. bought a new stake in BNY Mellon Strategic Municipal Bond Fund during the fourth quarter worth approximately $111,000.

BNY Mellon Strategic Municipal Bond Fund Stock Down 0.2%

BNY Mellon Strategic Municipal Bond Fund stock traded down $0.01 during mid-day trading on Friday, hitting $5.82. 174,083 shares of the company’s stock traded hands, compared to its average volume of 115,803. BNY Mellon Strategic Municipal Bond Fund has a one year low of $5.49 and a one year high of $6.30. The firm has a 50 day moving average price of $6.07 and a 200 day moving average price of $6.08.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Thursday, August 13th will be paid a dividend of $0.03 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Thursday, August 13th.

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.