BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Short Interest Update

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) was the target of a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 65,924 shares, a drop of 50.3% from the November 30th total of 132,761 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 198,904 shares, the days-to-cover ratio is presently 0.3 days. Based on an average trading volume of 198,904 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the shares of the company are short sold.

Insider Buying and Selling

In other BNY Mellon Strategic Municipal Bond Fund news, major shareholder Saba Capital Management, L.P. acquired 27,875 shares of the business’s stock in a transaction on Friday, November 28th. The shares were acquired at an average price of $5.90 per share, with a total value of $164,462.50. Following the completion of the transaction, the insider owned 5,180,466 shares in the company, valued at approximately $30,564,749.40. This trade represents a 0.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Institutional Trading of BNY Mellon Strategic Municipal Bond Fund

Hedge funds have recently made changes to their positions in the company. Root Financial Partners LLC purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter valued at $48,000. Cerity Partners LLC bought a new position in BNY Mellon Strategic Municipal Bond Fund during the second quarter worth about $56,000. Nomura Holdings Inc. purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the third quarter worth about $74,000. Landscape Capital Management L.L.C. raised its position in shares of BNY Mellon Strategic Municipal Bond Fund by 46.4% in the first quarter. Landscape Capital Management L.L.C. now owns 21,262 shares of the investment management company’s stock valued at $123,000 after purchasing an additional 6,735 shares during the period. Finally, Lee Financial Co purchased a new position in BNY Mellon Strategic Municipal Bond Fund in the 3rd quarter valued at approximately $172,000.

BNY Mellon Strategic Municipal Bond Fund Price Performance

Shares of NYSE:DSM traded up $0.02 during midday trading on Friday, reaching $6.03. The company had a trading volume of 135,135 shares, compared to its average volume of 197,504. The company’s 50 day moving average price is $5.98 and its 200 day moving average price is $5.80. BNY Mellon Strategic Municipal Bond Fund has a 52-week low of $5.28 and a 52-week high of $6.10.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Thursday, December 11th will be paid a $0.023 dividend. The ex-dividend date is Thursday, December 11th. This represents a c) annualized dividend and a yield of 4.6%.

About BNY Mellon Strategic Municipal Bond Fund

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.