Short Interest in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Drops By 24.6%

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 60,700 shares, a drop of 24.6% from the February 28th total of 80,500 shares. Based on an average daily volume of 147,800 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

Hedge funds have recently modified their holdings of the company. Benjamin Edwards Inc. purchased a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 3rd quarter valued at approximately $149,000. HighTower Advisors LLC lifted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 220.5% in the 3rd quarter. HighTower Advisors LLC now owns 110,992 shares of the investment management company’s stock valued at $689,000 after purchasing an additional 76,362 shares during the last quarter. Rivernorth Capital Management LLC increased its position in shares of BNY Mellon Strategic Municipal Bond Fund by 10.0% during the 3rd quarter. Rivernorth Capital Management LLC now owns 1,611,789 shares of the investment management company’s stock worth $10,041,000 after purchasing an additional 146,017 shares during the last quarter. Stifel Financial Corp lifted its position in BNY Mellon Strategic Municipal Bond Fund by 4.4% in the third quarter. Stifel Financial Corp now owns 61,442 shares of the investment management company’s stock valued at $383,000 after buying an additional 2,603 shares during the last quarter. Finally, Whitebox Advisors LLC boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 15.9% during the third quarter. Whitebox Advisors LLC now owns 192,127 shares of the investment management company’s stock worth $1,197,000 after buying an additional 26,319 shares during the period.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

BNY Mellon Strategic Municipal Bond Fund stock traded up $0.08 during trading on Tuesday, reaching $5.85. 83,247 shares of the company were exchanged, compared to its average volume of 130,204. The stock’s 50 day simple moving average is $5.90 and its two-hundred day simple moving average is $5.98. BNY Mellon Strategic Municipal Bond Fund has a 52-week low of $5.54 and a 52-week high of $6.38.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th will be given a dividend of $0.018 per share. The ex-dividend date of this dividend is Monday, April 14th. This represents a $0.22 annualized dividend and a dividend yield of 3.70%.

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.