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

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 53,403 shares, a growth of 177.2% from the August 15th total of 19,266 shares. Based on an average daily volume of 100,314 shares, the short-interest ratio is currently 0.5 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

A number of institutional investors have recently modified their holdings of DSM. Saba Capital Management L.P. increased its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 0.5% during the fourth quarter. Saba Capital Management L.P. now owns 5,179,441 shares of the investment management company’s stock valued at $31,957,000 after acquiring an additional 26,850 shares in the last quarter. Pathstone Holdings LLC boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 2.1% in the 3rd quarter. Pathstone Holdings LLC now owns 3,559,421 shares of the investment management company’s stock worth $21,072,000 after purchasing an additional 73,309 shares in the last quarter. Bulldog Investors LLP grew its position in BNY Mellon Strategic Municipal Bond Fund by 2.0% during the 1st quarter. Bulldog Investors LLP now owns 3,373,942 shares of the investment management company’s stock valued at $20,277,000 after purchasing an additional 65,851 shares during the last quarter. Rivernorth Capital Management LLC grew its position in BNY Mellon Strategic Municipal Bond Fund by 15.7% during the 2nd quarter. Rivernorth Capital Management LLC now owns 1,920,587 shares of the investment management company’s stock valued at $11,812,000 after purchasing an additional 260,230 shares during the last quarter. Finally, Sit Investment Associates Inc. increased its stake in BNY Mellon Strategic Municipal Bond Fund by 11.8% during the 4th quarter. Sit Investment Associates Inc. now owns 1,862,381 shares of the investment management company’s stock valued at $11,491,000 after purchasing an additional 195,867 shares in the last quarter.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

BNY Mellon Strategic Municipal Bond Fund stock opened at $5.58 on Friday. The stock’s 50 day moving average is $5.88 and its 200 day moving average is $6.00. BNY Mellon Strategic Municipal Bond Fund has a twelve month low of $5.56 and a twelve month high of $6.30.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be issued a $0.03 dividend. This represents a c) annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Monday, September 14th.

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.