BNY Mellon Municipal Bond Infrastructure Fund (NYSE:DMB) Shares Down 1.4% – Time to Sell?

BNY Mellon Municipal Bond Infrastructure Fund, Inc. (NYSE:DMB)’s stock price fell 1.4% during mid-day trading on Thursday. The company traded as low as $9.62 and last traded at $9.6240. 115,410 shares traded hands during trading, an increase of 102% from the average session volume of 57,252 shares. The stock had previously closed at $9.76.

BNY Mellon Municipal Bond Infrastructure Fund Stock Down 1.4%

The firm has a 50 day simple moving average of $10.45 and a 200 day simple moving average of $10.73.

BNY Mellon Municipal Bond Infrastructure Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 17th will be issued a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend is Thursday, September 17th.

Hedge Funds Weigh In On BNY Mellon Municipal Bond Infrastructure Fund

A number of large investors have recently modified their holdings of DMB. Sit Investment Associates Inc. purchased a new position in BNY Mellon Municipal Bond Infrastructure Fund during the fourth quarter valued at approximately $2,784,000. Bulldog Investors LLP lifted its stake in BNY Mellon Municipal Bond Infrastructure Fund by 30.1% in the 1st quarter. Bulldog Investors LLP now owns 520,749 shares of the company’s stock worth $5,489,000 after purchasing an additional 120,446 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in BNY Mellon Municipal Bond Infrastructure Fund by 14.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 247,088 shares of the company’s stock worth $2,728,000 after purchasing an additional 31,290 shares in the last quarter. Readystate Asset Management LP bought a new position in BNY Mellon Municipal Bond Infrastructure Fund in the 2nd quarter valued at $163,000. Finally, Triumph Capital Management boosted its holdings in BNY Mellon Municipal Bond Infrastructure Fund by 17.8% in the 2nd quarter. Triumph Capital Management now owns 8,450 shares of the company’s stock valued at $93,000 after purchasing an additional 1,275 shares during the period.

About BNY Mellon Municipal Bond Infrastructure Fund

BNY Mellon Municipal Bond Infrastructure Fund (NYSE: DMB) is a closed-end investment fund managed by BNY Mellon Investment Adviser, Inc The fund seeks to provide a high level of current income that is exempt from regular federal income tax, while also pursuing opportunities for capital appreciation.

The fund invests primarily in municipal obligations issued by states, municipalities and other governmental entities. Its portfolio emphasizes bonds that finance infrastructure-related projects and public services, which may include transportation, utilities, education, healthcare and other essential facilities.