Short Interest in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Drops By 67.2%

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) was the target of a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 34,313 shares, a decline of 67.2% from the January 15th total of 104,507 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 111,185 shares, the short-interest ratio is currently 0.3 days. Based on an average daily trading volume, of 111,185 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the company’s stock are short sold.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

Shares of DSM stock traded down $0.01 during midday trading on Friday, hitting $6.25. 62,759 shares of the company were exchanged, compared to its average volume of 82,673. The firm’s 50 day moving average price is $6.10 and its two-hundred day moving average price is $5.93. BNY Mellon Strategic Municipal Bond Fund has a 52 week low of $5.28 and a 52 week high of $6.30.

BNY Mellon Strategic Municipal Bond Fund Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Thursday, February 12th will be issued a dividend of $0.026 per share. This is a boost from BNY Mellon Strategic Municipal Bond Fund’s previous monthly dividend of $0.02. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Thursday, February 12th.

Insider Transactions at BNY Mellon Strategic Municipal Bond Fund

In other news, major shareholder Saba Capital Management, L.P. purchased 27,875 shares of the business’s stock in a transaction on Friday, November 28th. The stock was purchased at an average price of $5.90 per share, for a total transaction of $164,462.50. Following the completion of the purchase, the insider directly owned 5,180,466 shares in the company, valued at $30,564,749.40. The trade was a 0.54% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Trading of BNY Mellon Strategic Municipal Bond Fund

Several hedge funds have recently added to or reduced their stakes in the company. Pathstone Holdings LLC grew its holdings in BNY Mellon Strategic Municipal Bond Fund by 2.1% in the 3rd quarter. Pathstone Holdings LLC now owns 3,559,421 shares of the investment management company’s stock valued at $21,072,000 after buying an additional 73,309 shares in the last quarter. Bulldog Investors LLP boosted its position in shares of BNY Mellon Strategic Municipal Bond Fund by 26.0% in the fourth quarter. Bulldog Investors LLP now owns 3,308,091 shares of the investment management company’s stock valued at $20,411,000 after acquiring an additional 683,653 shares during the period. Karpus Management Inc. grew its stake in shares of 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 valued at $4,796,000 after acquiring an additional 830,610 shares in the last quarter. Wells Fargo & Company MN increased its position in 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 worth $2,497,000 after acquiring an additional 4,692 shares during the period. Finally, Van ECK Associates Corp increased its position in BNY Mellon Strategic Municipal Bond Fund by 13.4% during the fourth quarter. Van ECK Associates Corp now owns 369,531 shares of the investment management company’s stock worth $2,280,000 after acquiring an additional 43,596 shares during the period.

About BNY Mellon Strategic Municipal Bond Fund

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.