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

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) saw a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 10,000 shares, a decrease of 53.9% from the January 31st total of 21,700 shares. Based on an average daily volume of 158,100 shares, the short-interest ratio is presently 0.1 days.

BNY Mellon Strategic Municipal Bond Fund Trading Up 1.0 %

Shares of NYSE DSM traded up $0.06 during midday trading on Monday, hitting $6.09. The company’s stock had a trading volume of 132,096 shares, compared to its average volume of 130,849. BNY Mellon Strategic Municipal Bond Fund has a 1 year low of $5.54 and a 1 year high of $6.38. The business’s fifty day simple moving average is $5.88 and its two-hundred day simple moving average is $6.03.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.018 per share. The ex-dividend date is Friday, March 14th. This represents a $0.22 annualized dividend and a yield of 3.55%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Elequin Capital LP purchased a new stake in BNY Mellon Strategic Municipal Bond Fund during the 4th quarter worth about $36,000. Saba Capital Management L.P. increased its stake in BNY Mellon Strategic Municipal Bond Fund by 2.9% in the fourth quarter. Saba Capital Management L.P. now owns 4,127,582 shares of the investment management company’s stock valued at $23,981,000 after purchasing an additional 116,315 shares during the last quarter. Pathstone Holdings LLC raised its holdings in BNY Mellon Strategic Municipal Bond Fund by 15.5% during the fourth quarter. Pathstone Holdings LLC now owns 2,474,029 shares of the investment management company’s stock worth $14,397,000 after purchasing an additional 332,266 shares in the last quarter. Bulldog Investors LLP lifted its position in shares of BNY Mellon Strategic Municipal Bond Fund by 156.2% during the 4th quarter. Bulldog Investors LLP now owns 2,101,361 shares of the investment management company’s stock worth $12,223,000 after buying an additional 1,281,127 shares during the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the 4th quarter valued at $869,000.

BNY Mellon Strategic Municipal Bond Fund Company Profile

BNY Mellon Strategic Municipal Bond Fund, Inc is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc The fund invests in the fixed income markets of the United States. It primarily invests in investment grade municipal bonds which are exempt from federal income tax.