Short Interest in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Increases By 148.2%

by · The Markets Daily

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM – Get Free Report) saw a significant growth in short interest in May. As of May 15th, there was short interest totaling 115,543 shares, a growth of 148.2% from the April 30th total of 46,560 shares. Based on an average daily volume of 79,442 shares, the short-interest ratio is presently 1.5 days. Approximately 0.2% of the shares of the stock are sold short.

BNY Mellon Strategic Municipal Bond Fund Stock Down 0.5%

Shares of NYSE DSM traded down $0.03 on Monday, hitting $6.12. The company’s stock had a trading volume of 193,318 shares, compared to its average volume of 82,047. BNY Mellon Strategic Municipal Bond Fund has a 12-month low of $5.45 and a 12-month high of $6.30. 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 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 issued a $0.03 dividend. This represents a c) annualized dividend and a dividend yield of 5.9%. This is a boost from BNY Mellon Strategic Municipal Bond Fund’s previous monthly dividend of $0.03. The ex-dividend date of this dividend is Thursday, June 11th.

Hedge Funds Weigh In On BNY Mellon Strategic Municipal Bond Fund

Several institutional investors and hedge funds have recently modified their holdings of the company. Saba Capital Management L.P. lifted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 0.5% during the fourth quarter. Saba Capital Management L.P. now owns 5,179,441 shares of the investment management company’s stock valued at $31,957,000 after buying an additional 26,850 shares during the period. Pathstone Holdings LLC lifted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 2.1% during the third 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 lifted its stake 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 valued at $20,277,000 after buying an additional 65,851 shares during the period. Sit Investment Associates Inc. lifted its stake 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 valued at $11,491,000 after buying an additional 195,867 shares during the period. Finally, Rivernorth Capital Management LLC lifted 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 valued at $9,979,000 after buying an additional 824,765 shares during the period.

About BNY Mellon Strategic Municipal Bond Fund

(Get Free Report)

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.

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