BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.01 and traded as low as $5.75. BNY Mellon Strategic Municipal Bond Fund shares last traded at $5.78, with a volume of 165,361 shares traded.

BNY Mellon Strategic Municipal Bond Fund Trading Up 0.9 %

The firm has a fifty day simple moving average of $5.90 and a 200 day simple moving average of $6.00.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.018 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.67%.

Institutional Trading of BNY Mellon Strategic Municipal Bond Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pathstone Holdings LLC raised its position in shares of BNY Mellon Strategic Municipal Bond Fund by 25.0% during the third quarter. Pathstone Holdings LLC now owns 2,141,763 shares of the investment management company’s stock valued at $13,344,000 after buying an additional 428,411 shares during the last quarter. Avior Wealth Management LLC lifted its position in shares of BNY Mellon Strategic Municipal Bond Fund by 24.9% in the 3rd quarter. Avior Wealth Management LLC now owns 35,258 shares of the investment management company’s stock worth $220,000 after acquiring an additional 7,027 shares during the period. Benjamin Edwards Inc. bought a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 3rd quarter worth approximately $149,000. HighTower Advisors LLC grew its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 220.5% during the 3rd quarter. HighTower Advisors LLC now owns 110,992 shares of the investment management company’s stock worth $689,000 after purchasing an additional 76,362 shares in the last quarter. Finally, Rivernorth Capital Management LLC increased its position in shares of BNY Mellon Strategic Municipal Bond Fund by 10.0% during the third quarter. Rivernorth Capital Management LLC now owns 1,611,789 shares of the investment management company’s stock valued at $10,041,000 after purchasing an additional 146,017 shares during the period.

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.