BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Sees Large Growth in Short Interest

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) saw a significant increase in short interest in February. As of February 27th, there was short interest totaling 36,610 shares, an increase of 19.6% from the February 12th total of 30,614 shares. Based on an average daily volume of 103,102 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the company’s stock are sold short. Currently, 0.1% of the company’s stock are sold short. Based on an average daily volume of 103,102 shares, the days-to-cover ratio is presently 0.4 days.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

BNY Mellon Strategic Municipal Bond Fund stock traded up $0.01 during trading hours on Tuesday, reaching $6.02. The stock had a trading volume of 48,187 shares, compared to its average volume of 94,967. The business’s 50 day moving average price is $6.15 and its 200-day moving average price is $6.03. 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 Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 12th will be paid a dividend of $0.026 per share. This represents a c) annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Thursday, March 12th.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

Several institutional investors have recently bought and sold shares of DSM. Sit Investment Associates Inc. grew its holdings in BNY Mellon Strategic Municipal Bond Fund by 11.8% in the fourth quarter. Sit Investment Associates Inc. now owns 1,862,381 shares of the investment management company’s stock worth $11,491,000 after purchasing an additional 195,867 shares during the last quarter. Saba Capital Management L.P. lifted its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 0.5% during the 4th quarter. Saba Capital Management L.P. now owns 5,179,441 shares of the investment management company’s stock valued at $31,957,000 after purchasing an additional 26,850 shares during the last quarter. Evolve Private Wealth LLC purchased a new stake in shares of BNY Mellon Strategic Municipal Bond Fund during the 4th quarter valued at $173,000. Guggenheim Capital LLC boosted its position in shares of BNY Mellon Strategic Municipal Bond Fund by 29.0% in the 4th quarter. Guggenheim Capital LLC now owns 1,239,418 shares of the investment management company’s stock worth $7,647,000 after purchasing an additional 278,303 shares in the last quarter. Finally, Almitas Capital LLC boosted its position in shares of BNY Mellon Strategic Municipal Bond Fund by 8.8% in the 4th quarter. Almitas Capital LLC now owns 926,301 shares of the investment management company’s stock worth $5,715,000 after purchasing an additional 75,214 shares in the last quarter.

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.