BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Shares Cross Below 200-Day Moving Average – Here’s What Happened

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.03 and traded as low as $5.90. BNY Mellon Strategic Municipal Bond Fund shares last traded at $5.92, with a volume of 130,773 shares changing hands.

BNY Mellon Strategic Municipal Bond Fund Stock Up 0.3 %

The company’s fifty day simple moving average is $5.88 and its 200-day simple moving average is $6.03.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.018 dividend. This represents a $0.22 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Friday, February 14th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DSM. Park Avenue Securities LLC lifted its position in BNY Mellon Strategic Municipal Bond Fund by 6.3% during the 4th quarter. Park Avenue Securities LLC now owns 162,065 shares of the investment management company’s stock valued at $942,000 after purchasing an additional 9,666 shares during the period. Stifel Financial Corp increased its stake 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 worth $383,000 after purchasing an additional 2,603 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 220.5% during the 3rd quarter. HighTower Advisors LLC now owns 110,992 shares of the investment management company’s stock worth $689,000 after acquiring an additional 76,362 shares in the last quarter. Benjamin Edwards Inc. bought a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter worth approximately $149,000. Finally, Pathstone Holdings LLC boosted its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 25.0% in the 3rd quarter. Pathstone Holdings LLC now owns 2,141,763 shares of the investment management company’s stock valued at $13,344,000 after buying an additional 428,411 shares during the last quarter.

BNY Mellon Strategic Municipal Bond Fund Company Profile

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.