BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Sees Significant Growth in Short Interest

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) was the target of a large increase in short interest in August. As of August 31st, there was short interest totaling 53,403 shares, an increase of 177.2% from the August 15th total of 19,266 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 100,314 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

A number of hedge funds have recently bought and sold shares of the business. Readystate Asset Management LP bought a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 2nd quarter valued at approximately $88,000. Novak & Powell Financial Services Inc. purchased a new stake in BNY Mellon Strategic Municipal Bond Fund during the 4th quarter valued at $111,000. Petersen Hastings Wealth Advisors Inc. purchased a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the fourth quarter valued at $178,000. Noble Wealth Management PBC boosted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 7.2% during the 2nd quarter. Noble Wealth Management PBC now owns 65,733 shares of the investment management company’s stock worth $404,000 after purchasing an additional 4,400 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in BNY Mellon Strategic Municipal Bond Fund during the 1st quarter valued at about $423,000.

BNY Mellon Strategic Municipal Bond Fund Stock Down 1.3%

Shares of DSM stock opened at $5.51 on Tuesday. BNY Mellon Strategic Municipal Bond Fund has a 12-month low of $5.50 and a 12-month high of $6.30. The stock’s 50-day moving average price is $5.87 and its 200-day moving average price is $6.00.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 14th will be issued a dividend of $0.03 per share. This represents a c) annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Monday, September 14th.

About BNY Mellon Strategic Municipal Bond Fund

BNY Mellon Strategic Municipal Bond Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol DSM. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in municipal bonds and other municipal obligations.

The fund’s portfolio may include debt issued by states, cities, counties, and other governmental entities, as well as related public authorities. These securities generally finance public infrastructure and essential services, including schools, transportation systems, utilities, and healthcare facilities.