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

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) saw a significant increase in short interest in February. As of February 27th, there was short interest totaling 36,610 shares, an increase of 19.6% from the February 12th total of 30,614 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 103,102 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 103,102 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.1% of the company’s shares are short sold.

BNY Mellon Strategic Municipal Bond Fund Price Performance

Shares of DSM traded up $0.02 during trading hours on Wednesday, reaching $6.02. The stock had a trading volume of 40,630 shares, compared to its average volume of 88,154. The firm has a 50-day moving average of $6.15 and a 200 day moving average of $6.03. BNY Mellon Strategic Municipal Bond Fund has a 52 week low of $5.28 and a 52 week high of $6.30.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 12th will be given a dividend of $0.026 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Root Financial Partners LLC bought a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the third quarter worth about $48,000. Cerity Partners LLC bought a new stake in BNY Mellon Strategic Municipal Bond Fund in the 2nd quarter valued at approximately $56,000. Nomura Holdings Inc. acquired a new position in BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter worth approximately $74,000. BOKF NA acquired a new position in BNY Mellon Strategic Municipal Bond Fund during the fourth quarter worth $79,000. Finally, Janney Montgomery Scott LLC boosted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 22.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 15,331 shares of the investment management company’s stock worth $95,000 after buying an additional 2,765 shares during the last quarter.

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.