BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Short Interest Up 331.3% in May

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Get Free Report) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totalling 158,700 shares, an increase of 331.3% from the April 30th total of 36,800 shares. Based on an average daily trading volume, of 154,500 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.3% of the company's shares are short sold.

BNY Mellon Strategic Municipal Bond Fund Stock Down 0.4%

Shares of NYSE DSM traded down $0.02 during midday trading on Friday, reaching $5.56. 222,845 shares of the stock were exchanged, compared to its average volume of 138,354. The company has a 50 day simple moving average of $5.64 and a 200 day simple moving average of $5.82. BNY Mellon Strategic Municipal Bond Fund has a twelve month low of $5.28 and a twelve month high of $6.38.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, May 30th. Investors of record on Wednesday, May 14th were given a $0.018 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.22 annualized dividend and a yield of 3.88%.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. acquired 5,267 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was purchased at an average cost of $5.48 per share, for a total transaction of $28,863.16. Following the completion of the transaction, the insider now owns 5,146,241 shares in the company, valued at approximately $28,201,400.68. This trade represents a 0.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DSM. Elequin Capital LP acquired a new stake in shares of BNY Mellon Strategic Municipal Bond Fund during the 4th quarter worth about $36,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the first quarter worth $37,000. Landscape Capital Management L.L.C. acquired a new position in BNY Mellon Strategic Municipal Bond Fund in the 4th quarter valued at about $84,000. CJM Wealth Advisers Ltd. purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the first quarter valued at approximately $86,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund in 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.