Short Interest in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Rises By 8.4%

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 37,300 shares, a growth of 8.4% from the December 15th total of 34,400 shares. Based on an average trading volume of 135,700 shares, the days-to-cover ratio is presently 0.3 days.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

DSM remained flat at $5.86 during midday trading on Monday. 48,836 shares of the company’s stock traded hands, compared to its average volume of 150,353. BNY Mellon Strategic Municipal Bond Fund has a 52-week low of $5.54 and a 52-week high of $6.38. The firm has a fifty day moving average price of $5.94 and a 200-day moving average price of $6.04.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a $0.018 dividend. This represents a $0.22 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Wednesday, January 15th.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MidWestOne Financial Group Inc. acquired a new stake in BNY Mellon Strategic Municipal Bond Fund in the 3rd quarter valued at about $76,000. Benjamin Edwards Inc. acquired a new stake in shares of BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter worth approximately $149,000. AE Wealth Management LLC grew its position in shares of BNY Mellon Strategic Municipal Bond Fund by 68.6% during the 2nd quarter. AE Wealth Management LLC now owns 26,550 shares of the investment management company’s stock worth $158,000 after buying an additional 10,800 shares during the period. Aviance Capital Partners LLC grew its position in shares of BNY Mellon Strategic Municipal Bond Fund by 6.6% during the 3rd quarter. Aviance Capital Partners LLC now owns 27,091 shares of the investment management company’s stock worth $169,000 after buying an additional 1,669 shares during the period. Finally, Avior Wealth Management LLC grew its position in shares of BNY Mellon Strategic Municipal Bond Fund by 24.9% during the 3rd quarter. Avior Wealth Management LLC now owns 35,258 shares of the investment management company’s stock worth $220,000 after buying an additional 7,027 shares during the period.

About BNY Mellon Strategic Municipal Bond Fund

BNY Mellon Strategic Municipal Bond Fund, Inc is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc The fund invests in the fixed income markets of the United States. It primarily invests in investment grade municipal bonds which are exempt from federal income tax.