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

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) was the target of a large growth in short interest in March. As of March 31st, there was short interest totaling 76,642 shares, a growth of 130.2% from the March 15th total of 33,288 shares. Based on an average daily volume of 119,264 shares, the short-interest ratio is currently 0.6 days. Currently, 0.2% of the company’s stock are sold short.

BNY Mellon Strategic Municipal Bond Fund Trading Down 0.3%

Shares of NYSE:DSM traded down $0.02 during trading on Monday, hitting $6.09. 57,338 shares of the company’s stock traded hands, compared to its average volume of 117,960. BNY Mellon Strategic Municipal Bond Fund has a 52 week low of $5.39 and a 52 week high of $6.30. The company has a 50-day moving average price of $6.08 and a 200-day moving average price of $6.04.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, April 14th will be given a $0.026 dividend. This represents a c) dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, April 14th.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nomura Holdings Inc. acquired a new stake in BNY Mellon Strategic Municipal Bond Fund in the 3rd quarter valued at approximately $74,000. Cerity Partners LLC acquired a new stake in BNY Mellon Strategic Municipal Bond Fund in the 2nd quarter valued at approximately $56,000. Sit Investment Associates Inc. raised its position in 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 buying an additional 195,867 shares during the last quarter. Closed End Fund Advisors Inc. acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the 4th quarter worth approximately $619,000. Finally, Petersen Hastings Wealth Advisors Inc. acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the 4th quarter worth approximately $178,000.

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.