BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Share Price Passes Below 200 Day Moving Average – What’s Next?

Shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.09 and traded as low as $6.06. BNY Mellon Strategic Municipal Bond Fund shares last traded at $6.1550, with a volume of 232,104 shares trading hands.

BNY Mellon Strategic Municipal Bond Fund Trading Up 0.2%

The firm’s 50 day simple moving average is $6.09 and its 200-day simple moving average is $6.09.

BNY Mellon Strategic Municipal Bond Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders 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) annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Thursday, June 11th.

Institutional Trading of BNY Mellon Strategic Municipal Bond Fund

Several large investors have recently bought and sold shares of the business. Thomas J. Herzfeld Advisors Inc. lifted its position in BNY Mellon Strategic Municipal Bond Fund by 0.7% in the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 341,091 shares of the investment management company’s stock valued at $2,105,000 after buying an additional 2,512 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 22.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,331 shares of the investment management company’s stock worth $95,000 after buying an additional 2,765 shares during the period. Wells Fargo & Company MN increased its position in shares of BNY Mellon Strategic Municipal Bond Fund by 1.2% during the fourth quarter. Wells Fargo & Company MN now owns 404,626 shares of the investment management company’s stock valued at $2,497,000 after acquiring an additional 4,692 shares during the last quarter. HighTower Advisors LLC increased its position in shares of BNY Mellon Strategic Municipal Bond Fund by 15.9% during the fourth quarter. HighTower Advisors LLC now owns 42,452 shares of the investment management company’s stock valued at $262,000 after acquiring an additional 5,833 shares during the last quarter. Finally, Cerity Partners LLC purchased a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 2nd quarter valued at approximately $56,000.

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.