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

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 30,200 shares, a decline of 37.1% from the September 30th total of 48,000 shares. Based on an average daily volume of 115,900 shares, the short-interest ratio is presently 0.3 days.

BNY Mellon Strategic Municipal Bond Fund Stock Down 0.3 %

Shares of NYSE:DSM traded down $0.02 on Tuesday, reaching $5.98. 117,613 shares of the company’s stock were exchanged, compared to its average volume of 128,378. BNY Mellon Strategic Municipal Bond Fund has a fifty-two week low of $4.71 and a fifty-two week high of $6.38. The business’s 50-day moving average is $6.18 and its two-hundred day moving average is $5.95.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a $0.018 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $0.22 dividend on an annualized basis and a yield of 3.61%.

Hedge Funds Weigh In On BNY Mellon Strategic Municipal Bond Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wolverine Asset Management LLC grew its position in shares of BNY Mellon Strategic Municipal Bond Fund by 220.9% during the second quarter. Wolverine Asset Management LLC now owns 11,232 shares of the investment management company’s stock worth $67,000 after acquiring an additional 7,732 shares during the last quarter. Arbor Trust Wealth Advisors LLC acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the second quarter worth approximately $77,000. WMG Financial Advisors LLC acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the second quarter worth approximately $87,000. Signature Estate & Investment Advisors LLC bought a new position in BNY Mellon Strategic Municipal Bond Fund in the 2nd quarter worth approximately $94,000. Finally, Aviance Capital Partners LLC increased its position in BNY Mellon Strategic Municipal Bond Fund by 78.8% in the 1st quarter. Aviance Capital Partners LLC now owns 20,246 shares of the investment management company’s stock valued at $119,000 after acquiring an additional 8,923 shares during the period.

BNY Mellon Strategic Municipal Bond Fund Company Profile

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.