BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Shares Cross Below 200 Day Moving Average – Here’s Why

Shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.06 and traded as low as $6.01. BNY Mellon Strategic Municipal Bond Fund shares last traded at $6.0510, with a volume of 45,339 shares traded.

BNY Mellon Strategic Municipal Bond Fund Price Performance

The business’s 50-day moving average is $6.03 and its two-hundred day moving average is $6.06.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Wednesday, May 13th will be issued a dividend of $0.026 per share. This represents a c) annualized dividend and a yield of 5.2%. The ex-dividend date is Wednesday, May 13th.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. increased its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 231.3% during the 2nd quarter. Invesco Ltd. now owns 137,174 shares of the investment management company’s stock worth $768,000 after purchasing an additional 95,769 shares during the last quarter. Cerity Partners LLC bought a new position in BNY Mellon Strategic Municipal Bond Fund in the 2nd quarter valued at about $56,000. Karpus Management Inc. lifted its position in BNY Mellon Strategic Municipal Bond Fund by 3,220.3% during the second quarter. Karpus Management Inc. now owns 856,403 shares of the investment management company’s stock worth $4,796,000 after acquiring an additional 830,610 shares during the last quarter. Bank of America Corp DE lifted its position in BNY Mellon Strategic Municipal Bond Fund by 7,654.0% during the second quarter. Bank of America Corp DE now owns 73,353 shares of the investment management company’s stock worth $411,000 after acquiring an additional 72,407 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 51.8% during the second quarter. Geneos Wealth Management Inc. now owns 42,860 shares of the investment management company’s stock worth $240,000 after acquiring an additional 14,630 shares during the period.

BNY Mellon Strategic Municipal Bond Fund Company Profile

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.