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

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) saw a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 34,400 shares, a decrease of 11.3% from the November 30th total of 38,800 shares. Based on an average daily volume of 132,700 shares, the days-to-cover ratio is currently 0.3 days.

BNY Mellon Strategic Municipal Bond Fund Trading Down 0.2 %

Shares of NYSE DSM opened at $5.75 on Monday. BNY Mellon Strategic Municipal Bond Fund has a fifty-two week low of $5.54 and a fifty-two week high of $6.38. The business’s 50 day moving average price is $6.00 and its 200-day moving average price is $6.04.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.018 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.22 dividend on an annualized basis and a yield of 3.76%.

Institutional Trading of BNY Mellon Strategic Municipal Bond Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Rivernorth Capital Management LLC raised its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 13.7% during the third quarter. Rivernorth Capital Management LLC now owns 1,666,877 shares of the investment management company’s stock valued at $10,385,000 after acquiring an additional 201,105 shares in the last quarter. MidWestOne Financial Group Inc. purchased a new position in BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter worth $76,000. Whitebox Advisors LLC raised its position in BNY Mellon Strategic Municipal Bond Fund by 15.9% during the 3rd quarter. Whitebox Advisors LLC now owns 192,127 shares of the investment management company’s stock valued at $1,197,000 after purchasing an additional 26,319 shares in the last quarter. Stifel Financial Corp raised its position in BNY Mellon Strategic Municipal Bond Fund by 4.4% during the 3rd quarter. Stifel Financial Corp now owns 61,442 shares of the investment management company’s stock valued at $383,000 after purchasing an additional 2,603 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 220.5% in the 3rd quarter. HighTower Advisors LLC now owns 110,992 shares of the investment management company’s stock worth $689,000 after buying an additional 76,362 shares during the period.

About BNY Mellon Strategic Municipal Bond Fund

BNY Mellon Strategic Municipal Bond Fund, Inc is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc The fund invests in the fixed income markets of the United States. It primarily invests in investment grade municipal bonds which are exempt from federal income tax.