BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Short Interest Up 150.1% in September

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 85,300 shares, an increase of 150.1% from the August 31st total of 34,100 shares. Based on an average daily volume of 115,300 shares, the days-to-cover ratio is presently 0.7 days.

BNY Mellon Strategic Municipal Bond Fund Trading Down 0.2 %

Shares of DSM stock opened at $6.22 on Friday. The company has a 50 day moving average price of $6.11 and a 200-day moving average price of $5.89. BNY Mellon Strategic Municipal Bond Fund has a 52 week low of $4.69 and a 52 week high of $6.38.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a $0.018 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.48%.

Institutional Trading of BNY Mellon Strategic Municipal Bond Fund

A number of large investors have recently made changes to their positions in DSM. Weiss Asset Management LP bought a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the fourth quarter worth approximately $180,000. Gridiron Partners LLC purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the fourth quarter worth approximately $279,000. Bulldog Investors LLP boosted its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 12.5% in the fourth quarter. Bulldog Investors LLP now owns 468,928 shares of the investment management company’s stock worth $2,678,000 after buying an additional 51,967 shares during the last quarter. Novak & Powell Financial Services Inc. purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the fourth quarter worth approximately $95,000. Finally, Nomura Holdings Inc. purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the fourth quarter worth approximately $101,000.

About BNY Mellon Strategic Municipal Bond Fund

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.