BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Short Interest Update

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) saw a significant decline in short interest in May. As of May 29th, there was short interest totaling 76,741 shares, a decline of 33.6% from the May 14th total of 115,543 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 95,248 shares, the days-to-cover ratio is currently 0.8 days.

BNY Mellon Strategic Municipal Bond Fund Price Performance

BNY Mellon Strategic Municipal Bond Fund stock opened at $6.12 on Thursday. The business’s fifty day moving average is $6.09 and its two-hundred day moving average is $6.08. BNY Mellon Strategic Municipal Bond Fund has a 52 week low of $5.45 and a 52 week high of $6.30.

BNY Mellon Strategic Municipal Bond Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, June 11th will be paid a $0.03 dividend. This is an increase from BNY Mellon Strategic Municipal Bond Fund’s previous monthly dividend of $0.03. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Thursday, June 11th.

Hedge Funds Weigh In On BNY Mellon Strategic Municipal Bond Fund

A number of institutional investors and hedge funds have recently bought and sold shares of DSM. Invesco Ltd. boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 231.3% in the second 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 in the last quarter. Cerity Partners LLC acquired a new position in BNY Mellon Strategic Municipal Bond Fund in the second quarter worth $56,000. Karpus Management Inc. boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 3,220.3% in the second quarter. Karpus Management Inc. now owns 856,403 shares of the investment management company’s stock worth $4,796,000 after purchasing an additional 830,610 shares in the last quarter. Bank of America Corp DE boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 7,654.0% in the second quarter. Bank of America Corp DE now owns 73,353 shares of the investment management company’s stock worth $411,000 after purchasing an additional 72,407 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake 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 valued at $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.