BNY Mellon Municipal Bond Infrastructure Fund (NYSE:DMB) Stock Jumps 3% – Still a Buy?

BNY Mellon Municipal Bond Infrastructure Fund, Inc. (NYSE:DMB) shares shot up 3% on Thursday. The stock traded as high as $9.59 and last traded at $9.5660. Approximately 162,859 shares traded hands during trading, an increase of 161% from the average session volume of 62,407 shares. The stock had previously closed at $9.29.

BNY Mellon Municipal Bond Infrastructure Fund Stock Performance

The business’s 50 day simple moving average is $10.06 and its two-hundred day simple moving average is $10.59.

BNY Mellon Municipal Bond Infrastructure Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 19th will be paid a dividend of $0.05 per share. This represents a $0.60 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Monday, October 19th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Triumph Capital Management lifted its holdings in BNY Mellon Municipal Bond Infrastructure Fund by 17.8% in the 2nd quarter. Triumph Capital Management now owns 8,450 shares of the company’s stock worth $93,000 after purchasing an additional 1,275 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of BNY Mellon Municipal Bond Infrastructure Fund by 10.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 24,925 shares of the company’s stock worth $263,000 after acquiring an additional 2,425 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of BNY Mellon Municipal Bond Infrastructure Fund during the 1st quarter worth approximately $125,000. Readystate Asset Management LP purchased a new position in shares of BNY Mellon Municipal Bond Infrastructure Fund in the second quarter valued at $163,000. Finally, Hennion & Walsh Asset Management Inc. raised its stake in BNY Mellon Municipal Bond Infrastructure Fund by 14.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 247,088 shares of the company’s stock valued at $2,728,000 after purchasing an additional 31,290 shares in the last quarter.

BNY Mellon Municipal Bond Infrastructure Fund Company Profile

BNY Mellon Municipal Bond Infrastructure Fund, Inc (NYSE: DMB) is a closed-end investment fund that seeks to provide current income exempt from regular federal income tax. The fund invests primarily in municipal securities issued by states, cities, and other public entities in the United States.

The fund focuses on municipal bonds that finance infrastructure-related projects and public services. These investments may support areas such as transportation, utilities, schools, hospitals, housing, and other essential community facilities.