BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Short Interest Update

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) was the recipient of a significant increase in short interest in 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 days-to-cover ratio is presently 1.5 days. Approximately 0.2% of the company’s shares are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Saba Capital Management L.P. increased its holdings in BNY Mellon Strategic Municipal Bond Fund by 0.5% during the 4th quarter. Saba Capital Management L.P. now owns 5,179,441 shares of the investment management company’s stock worth $31,957,000 after purchasing an additional 26,850 shares during the period. 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 buying an additional 73,309 shares during the period. Bulldog Investors LLP grew its position in shares of BNY Mellon Strategic Municipal Bond Fund by 2.0% during the first quarter. Bulldog Investors LLP now owns 3,373,942 shares of the investment management company’s stock worth $20,277,000 after buying an additional 65,851 shares in the last quarter. Sit Investment Associates Inc. grew its position in shares of BNY Mellon Strategic Municipal Bond Fund by 11.8% during the fourth quarter. Sit Investment Associates Inc. now owns 1,862,381 shares of the investment management company’s stock worth $11,491,000 after buying an additional 195,867 shares in the last quarter. Finally, Rivernorth Capital Management LLC increased its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 98.7% during the first quarter. Rivernorth Capital Management LLC now owns 1,660,357 shares of the investment management company’s stock worth $9,979,000 after buying an additional 824,765 shares during the period.

BNY Mellon Strategic Municipal Bond Fund Trading Up 0.4%

Shares of BNY Mellon Strategic Municipal Bond Fund stock opened at $6.15 on Friday. The stock 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 fifty-two week low of $5.45 and a fifty-two week high of $6.30.

BNY Mellon Strategic Municipal Bond Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, June 11th will be paid a $0.03 dividend. This represents a c) annualized dividend and a dividend yield of 5.9%. This is a positive change from BNY Mellon Strategic Municipal Bond Fund’s previous monthly dividend of $0.03. The ex-dividend date is Thursday, June 11th.

BNY Mellon Strategic Municipal Bond Fund Company Profile

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.