Short Interest in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Declines By 37.1%

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 30,200 shares, a decline of 37.1% from the September 30th total of 48,000 shares. Based on an average daily trading volume, of 115,900 shares, the days-to-cover ratio is currently 0.3 days.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

DSM opened at $6.01 on Friday. The company’s 50-day simple moving average is $6.18 and its two-hundred day simple moving average is $5.94. BNY Mellon Strategic Municipal Bond Fund has a 52-week low of $4.69 and a 52-week high of $6.38.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be issued a $0.018 dividend. This represents a $0.22 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Tuesday, October 15th.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

A number of large investors have recently added to or reduced their stakes in the stock. Kingswood Wealth Advisors LLC grew its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 118.3% in the first quarter. Kingswood Wealth Advisors LLC now owns 31,000 shares of the investment management company’s stock worth $182,000 after acquiring an additional 16,800 shares during the period. Aviance Capital Partners LLC grew its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 78.8% during the 1st quarter. Aviance Capital Partners LLC now owns 20,246 shares of the investment management company’s stock valued at $119,000 after purchasing an additional 8,923 shares during the period. Van ECK Associates Corp increased its position in shares of BNY Mellon Strategic Municipal Bond Fund by 13.9% during the 1st quarter. Van ECK Associates Corp now owns 428,946 shares of the investment management company’s stock valued at $2,514,000 after purchasing an additional 52,368 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the 2nd quarter worth approximately $240,000. Finally, Signature Estate & Investment Advisors LLC purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the second quarter worth approximately $94,000.

BNY Mellon Strategic Municipal Bond Fund Company Profile

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.