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

Key Points

• Short interest fell 20.4% in April to 61,026 shares (about 0.1% of shares outstanding), leaving a days-to-cover ratio of 0.5 based on average daily volume.
• Institutional accumulation accelerated—Karpus Management raised its stake by 3,220.3% (+830,610 shares) to 856,403 shares and Almitas Capital increased its holding to 926,301 shares, indicating significant hedge fund buying.
• The fund declared a monthly dividend of $0.026 (ex-dividend May 13, payable May 29), which represents an annualized yield of about 5.2%.

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Get Free Report) saw a large decrease in short interest in April. As of April 15th, there was short interest totaling 61,026 shares, a decrease of 20.4% from the March 31st total of 76,642 shares. Currently, 0.1% of the company's shares are sold short. Based on an average daily trading volume, of 111,749 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Trading of BNY Mellon Strategic Municipal Bond Fund

Several hedge funds have recently made changes to their positions in DSM. Almitas Capital LLC lifted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 8.8% in the 4th quarter. Almitas Capital LLC now owns 926,301 shares of the investment management company's stock valued at $5,715,000 after purchasing an additional 75,214 shares during the last quarter. Karpus Management Inc. raised its holdings in BNY Mellon Strategic Municipal Bond Fund by 3,220.3% in the 2nd quarter. Karpus Management Inc. now owns 856,403 shares of the investment management company's stock valued at $4,796,000 after buying an additional 830,610 shares during the period. Van ECK Associates Corp raised its holdings in BNY Mellon Strategic Municipal Bond Fund by 13.4% in the 4th quarter. Van ECK Associates Corp now owns 369,531 shares of the investment management company's stock valued at $2,280,000 after buying an additional 43,596 shares during the period. Thomas J. Herzfeld Advisors Inc. raised its holdings in BNY Mellon Strategic Municipal Bond Fund by 0.7% in the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 341,091 shares of the investment management company's stock valued at $2,105,000 after buying an additional 2,512 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new stake in BNY Mellon Strategic Municipal Bond Fund in the 4th quarter valued at about $1,234,000.

BNY Mellon Strategic Municipal Bond Fund Stock Up 0.7%

NYSE:DSM traded up $0.04 during trading hours on Thursday, hitting $6.04. The company had a trading volume of 148,295 shares, compared to its average volume of 87,131. The company has a 50-day moving average of $6.04 and a 200 day moving average of $6.05. BNY Mellon Strategic Municipal Bond Fund has a 1 year low of $5.45 and a 1 year high of $6.30.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th will be paid a $0.026 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a c) annualized dividend and a dividend yield of 5.2%.

BNY Mellon Strategic Municipal Bond Fund Company Profile

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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