Short Interest in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Drops By 43.9%

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) was the recipient of a large decrease in short interest in July. As of July 15th, there was short interest totaling 25,066 shares, a decrease of 43.9% from the June 30th total of 44,646 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 124,731 shares, the short-interest ratio is currently 0.2 days.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

DSM traded down $0.01 during midday trading on Wednesday, reaching $5.88. The company had a trading volume of 86,706 shares, compared to its average volume of 101,555. BNY Mellon Strategic Municipal Bond Fund has a 1 year low of $5.47 and a 1 year high of $6.30. The business has a 50-day moving average of $6.08 and a two-hundred day moving average of $6.09.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 14th will be paid a dividend of $0.03 per share. The ex-dividend date is Tuesday, July 14th. This represents a c) dividend on an annualized basis and a yield of 6.1%.

Hedge Funds Weigh In On BNY Mellon Strategic Municipal Bond Fund

Large investors have recently added to or reduced their stakes in the company. Cerity Partners LLC bought a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the second quarter worth approximately $56,000. Nomura Holdings Inc. bought a new stake in shares of BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter valued at $74,000. BOKF NA purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the 4th quarter valued at $79,000. Janney Montgomery Scott LLC lifted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 22.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 15,331 shares of the investment management company’s stock valued at $95,000 after buying an additional 2,765 shares in the last quarter. Finally, Novak & Powell Financial Services Inc. bought a new position in BNY Mellon Strategic Municipal Bond Fund in the 4th quarter worth $111,000.

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.