Short Interest in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Drops By 20.4%

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) was the target of a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 61,026 shares, a decrease of 20.4% from the March 31st total of 76,642 shares. Based on an average daily trading volume, of 111,749 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.1% of the company’s stock are short sold.

BNY Mellon Strategic Municipal Bond Fund Price Performance

Shares of DSM traded down $0.01 during midday trading on Friday, reaching $6.04. 90,158 shares of the stock were exchanged, compared to its average volume of 87,044. BNY Mellon Strategic Municipal Bond Fund has a 52 week low of $5.45 and a 52 week high of $6.30. The company’s 50 day moving average is $6.04 and its two-hundred day moving average is $6.05.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th will be issued a dividend of $0.026 per share. This represents a c) annualized dividend and a yield of 5.2%. The ex-dividend date is Wednesday, May 13th.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

Several large investors have recently modified their holdings of DSM. Thomas J. Herzfeld Advisors Inc. raised its holdings in BNY Mellon Strategic Municipal Bond Fund by 0.7% in the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 341,091 shares of the investment management company’s stock worth $2,105,000 after purchasing an additional 2,512 shares during the period. Janney Montgomery Scott LLC grew its holdings in BNY Mellon Strategic Municipal Bond Fund by 22.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 15,331 shares of the investment management company’s stock valued at $95,000 after purchasing an additional 2,765 shares during the period. Wells Fargo & Company MN grew its holdings in BNY Mellon Strategic Municipal Bond Fund by 1.2% in the fourth quarter. Wells Fargo & Company MN now owns 404,626 shares of the investment management company’s stock valued at $2,497,000 after purchasing an additional 4,692 shares during the period. HighTower Advisors LLC increased its position in shares of BNY Mellon Strategic Municipal Bond Fund by 15.9% in the fourth quarter. HighTower Advisors LLC now owns 42,452 shares of the investment management company’s stock valued at $262,000 after buying an additional 5,833 shares in the last quarter. Finally, Root Financial Partners LLC acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter worth approximately $48,000.

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.