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 the month of 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 company’s shares are short sold. Based on an average daily volume of 95,248 shares, the short-interest ratio is presently 0.8 days.

Hedge Funds Weigh In On BNY Mellon Strategic Municipal Bond Fund

A number of hedge funds have recently bought and sold shares of DSM. Invesco Ltd. raised its stake in BNY Mellon Strategic Municipal Bond Fund by 231.3% during the second quarter. Invesco Ltd. now owns 137,174 shares of the investment management company’s stock worth $768,000 after buying an additional 95,769 shares during the last quarter. Cerity Partners LLC bought a new position in BNY Mellon Strategic Municipal Bond Fund during the second quarter worth $56,000. Karpus Management Inc. raised its stake in BNY Mellon Strategic Municipal Bond Fund by 3,220.3% during the second quarter. Karpus Management Inc. now owns 856,403 shares of the investment management company’s stock worth $4,796,000 after buying an additional 830,610 shares during the last quarter. Bank of America Corp DE raised its stake in BNY Mellon Strategic Municipal Bond Fund by 7,654.0% during the second quarter. Bank of America Corp DE now owns 73,353 shares of the investment management company’s stock worth $411,000 after buying an additional 72,407 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in 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 worth $240,000 after buying an additional 14,630 shares during the last quarter.

BNY Mellon Strategic Municipal Bond Fund Trading Up 0.3%

Shares of NYSE:DSM opened at $6.13 on Tuesday. The firm’s fifty day moving average is $6.08 and its 200-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 company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, June 11th will be paid a dividend of $0.03 per share. This is a boost 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.

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.