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

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 34,800 shares, an increase of 15.2% from the October 15th total of 30,200 shares. Based on an average daily trading volume, of 112,200 shares, the days-to-cover ratio is currently 0.3 days.

BNY Mellon Strategic Municipal Bond Fund Trading Down 0.4 %

Shares of DSM stock traded down $0.02 during trading hours on Friday, hitting $6.01. 103,966 shares of the company’s stock were exchanged, compared to its average volume of 127,732. BNY Mellon Strategic Municipal Bond Fund has a 12-month low of $5.23 and a 12-month high of $6.38. The business’s 50 day simple moving average is $6.15 and its 200-day simple moving average is $5.99.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a $0.018 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Friday, November 15th.

Institutional Trading of BNY Mellon Strategic Municipal Bond Fund

Several hedge funds have recently added to or reduced their stakes in DSM. Wolverine Asset Management LLC grew its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 220.9% during the second quarter. Wolverine Asset Management LLC now owns 11,232 shares of the investment management company’s stock valued at $67,000 after buying an additional 7,732 shares during the last quarter. MidWestOne Financial Group Inc. purchased a new stake in BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter valued at about $76,000. Arbor Trust Wealth Advisors LLC bought a new position in BNY Mellon Strategic Municipal Bond Fund during the 2nd quarter worth approximately $77,000. WMG Financial Advisors LLC bought a new position in BNY Mellon Strategic Municipal Bond Fund during the 2nd quarter worth approximately $87,000. Finally, Signature Estate & Investment Advisors LLC purchased a new position in BNY Mellon Strategic Municipal Bond Fund in the 2nd quarter worth approximately $94,000.

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.