BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Short Interest Up 148.2% in May

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totaling 115,543 shares, an increase of 148.2% from the April 30th total of 46,560 shares. Based on an average daily trading volume, of 79,442 shares, the short-interest ratio is presently 1.5 days. Approximately 0.2% of the shares of the company are short sold.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

Hedge funds have recently made changes to their positions in the company. Saba Capital Management L.P. increased its position in BNY Mellon Strategic Municipal Bond Fund by 0.5% in 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 acquiring an additional 26,850 shares in the last quarter. Pathstone Holdings LLC boosted its stake in shares of 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 purchasing an additional 73,309 shares during the last quarter. Bulldog Investors LLP boosted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 2.0% in the 1st quarter. Bulldog Investors LLP now owns 3,373,942 shares of the investment management company’s stock valued at $20,277,000 after purchasing an additional 65,851 shares during the last quarter. Sit Investment Associates Inc. boosted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 11.8% in the 4th quarter. Sit Investment Associates Inc. now owns 1,862,381 shares of the investment management company’s stock valued at $11,491,000 after purchasing an additional 195,867 shares during the last quarter. Finally, Rivernorth Capital Management LLC boosted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 98.7% in the 1st quarter. Rivernorth Capital Management LLC now owns 1,660,357 shares of the investment management company’s stock valued at $9,979,000 after purchasing an additional 824,765 shares during the last quarter.

BNY Mellon Strategic Municipal Bond Fund Stock Down 0.5%

Shares of NYSE:DSM opened at $6.12 on Tuesday. The company has a 50 day moving average of $6.03 and a 200-day moving average of $6.06. BNY Mellon Strategic Municipal Bond Fund has a twelve month low of $5.45 and a twelve month 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 Tuesday, June 30th. Investors of record on Thursday, June 11th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a c) annualized dividend and a dividend yield of 5.9%. This is an increase from BNY Mellon Strategic Municipal Bond Fund’s previous monthly dividend of $0.03.

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.