Short Interest in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Drops By 58.8%

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Get Free Report) was the target of a large decrease in short interest in April. As of April 15th, there was short interest totalling 15,000 shares, a decrease of 58.8% from the March 31st total of 36,400 shares. Based on an average daily trading volume, of 168,100 shares, the short-interest ratio is currently 0.1 days.

BNY Mellon Strategic Municipal Bond Fund Trading Up 0.9 %

Shares of DSM stock opened at $5.60 on Monday. BNY Mellon Strategic Municipal Bond Fund has a 12 month low of $5.28 and a 12 month high of $6.38. The stock has a 50-day moving average price of $5.77 and a 200 day moving average price of $5.89.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 14th will be paid a $0.018 dividend. The ex-dividend date is Monday, April 14th. This represents a $0.22 dividend on an annualized basis and a yield of 3.86%.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. bought 5,267 shares of the stock in a transaction dated Tuesday, April 15th. The stock was bought at an average cost of $5.48 per share, with a total value of $28,863.16. Following the purchase, the insider now owns 5,146,241 shares of the company's stock, valued at approximately $28,201,400.68. This represents a 0.10 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Trading of BNY Mellon Strategic Municipal Bond Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Elequin Capital LP bought a new stake in BNY Mellon Strategic Municipal Bond Fund in the fourth quarter valued at about $36,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 1st quarter valued at about $37,000. Landscape Capital Management L.L.C. acquired a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 4th quarter valued at approximately $84,000. CJM Wealth Advisers Ltd. bought a new position in BNY Mellon Strategic Municipal Bond Fund during the 1st quarter worth approximately $86,000. Finally, Janney Montgomery Scott LLC acquired a new position in BNY Mellon Strategic Municipal Bond Fund during the first quarter valued at approximately $111,000.

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.

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