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 March. As of March 15th, there was short interest totalling 60,700 shares, a decrease of 24.6% from the February 28th total of 80,500 shares. Based on an average daily volume of 147,800 shares, the short-interest ratio is presently 0.4 days.

BNY Mellon Strategic Municipal Bond Fund Stock Up 1.3 %

DSM stock traded up $0.08 during midday trading on Tuesday, hitting $5.85. 83,247 shares of the stock traded hands, compared to its average volume of 130,204. The stock’s fifty day simple moving average is $5.90 and its 200-day simple moving average is $5.98. BNY Mellon Strategic Municipal Bond Fund has a 1-year low of $5.54 and a 1-year high of $6.38.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th will be given a dividend of $0.018 per share. The ex-dividend date is Monday, April 14th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.70%.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

A number of institutional investors have recently added to or reduced their stakes in DSM. Elequin Capital LP acquired a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the fourth quarter valued at about $36,000. MidWestOne Financial Group Inc. acquired a new stake in BNY Mellon Strategic Municipal Bond Fund in the 3rd quarter worth about $76,000. Landscape Capital Management L.L.C. purchased a new stake in BNY Mellon Strategic Municipal Bond Fund during the 4th quarter worth approximately $84,000. Benjamin Edwards Inc. purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the third quarter valued at approximately $149,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the fourth quarter worth approximately $177,000.

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.