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

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.01 and traded as low as $5.75. BNY Mellon Strategic Municipal Bond Fund shares last traded at $5.78, with a volume of 165,361 shares trading hands.

BNY Mellon Strategic Municipal Bond Fund Trading Up 0.9 %

The firm’s 50-day moving average price is $5.90 and its two-hundred day moving average price is $6.00.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.018 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.22 annualized dividend and a dividend yield of 3.67%.

Hedge Funds Weigh In On BNY Mellon Strategic Municipal Bond Fund

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Elequin Capital LP bought a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the fourth quarter valued at $36,000. MidWestOne Financial Group Inc. acquired a new stake in shares of BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter worth about $76,000. Landscape Capital Management L.L.C. bought a new position in BNY Mellon Strategic Municipal Bond Fund during the 4th quarter valued at about $84,000. Benjamin Edwards Inc. acquired a new position in BNY Mellon Strategic Municipal Bond Fund in the third quarter valued at about $149,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in BNY Mellon Strategic Municipal Bond Fund during the fourth quarter worth about $177,000.

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.