Short Interest in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Increases By 254.9%

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totalling 57,500 shares, a growth of 254.9% from the July 15th total of 16,200 shares. Based on an average daily trading volume, of 124,500 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On BNY Mellon Strategic Municipal Bond Fund

A number of hedge funds have recently added to or reduced their stakes in DSM. Raymond James Financial Services Advisors Inc. acquired a new stake in BNY Mellon Strategic Municipal Bond Fund in the fourth quarter valued at approximately $63,000. Wolverine Asset Management LLC boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 9.3% in the fourth quarter. Wolverine Asset Management LLC now owns 42,556 shares of the investment management company’s stock valued at $243,000 after acquiring an additional 3,622 shares in the last quarter. Van ECK Associates Corp boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 14.7% in the fourth quarter. Van ECK Associates Corp now owns 376,578 shares of the investment management company’s stock valued at $2,150,000 after acquiring an additional 48,259 shares in the last quarter. Bridgewater Advisors Inc. acquired a new stake in BNY Mellon Strategic Municipal Bond Fund in the fourth quarter valued at approximately $441,000. Finally, Weiss Asset Management LP purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the fourth quarter worth $180,000.

BNY Mellon Strategic Municipal Bond Fund Stock Up 1.0 %

Shares of NYSE DSM traded up $0.06 during mid-day trading on Tuesday, hitting $6.12. 119,546 shares of the company’s stock traded hands, compared to its average volume of 134,425. The company’s 50-day moving average is $5.91 and its two-hundred day moving average is $5.80. BNY Mellon Strategic Municipal Bond Fund has a 1 year low of $4.69 and a 1 year high of $6.12.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, August 30th. Shareholders of record on Wednesday, August 14th will be paid a $0.018 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $0.22 dividend on an annualized basis and a yield of 3.53%.

About BNY Mellon Strategic Municipal Bond Fund

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.