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

Key Points

• Short interest in DSM fell sharply in June, dropping 39.9% to 44,646 shares as of June 30 from 74,300 shares on June 15. That leaves just 0.1% of shares sold short, with a short-interest ratio of 0.3 days.
• The fund’s shares slipped slightly, with DSM trading down 0.3% to $6.05. The stock remains near its 52-week range, between a low of $5.45 and a high of $6.30.
• BNY Mellon Strategic Municipal Bond Fund declared a monthly dividend of $0.03 per share, payable July 31 to stockholders of record on July 14. The payout implies an annualized dividend yield of about 6.0%.

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Get Free Report) was the recipient of a significant drop in short interest in June. As of June 30th, there was short interest totaling 44,646 shares, a drop of 39.9% from the June 15th total of 74,300 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 136,351 shares, the short-interest ratio is currently 0.3 days.

BNY Mellon Strategic Municipal Bond Fund Stock Down 0.3%

DSM stock traded down $0.02 during mid-day trading on Thursday, reaching $6.05. The company's stock had a trading volume of 50,969 shares, compared to its average volume of 100,063. BNY Mellon Strategic Municipal Bond Fund has a fifty-two week low of $5.45 and a fifty-two week high of $6.30. The company's 50 day moving average is $6.10 and its two-hundred day moving average is $6.10.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, July 14th will be given a $0.03 dividend. The ex-dividend date is Tuesday, July 14th. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 231.3% during the second quarter. Invesco Ltd. now owns 137,174 shares of the investment management company's stock worth $768,000 after buying an additional 95,769 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 2nd quarter worth $56,000. Karpus Management Inc. raised its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 3,220.3% during the 2nd quarter. Karpus Management Inc. now owns 856,403 shares of the investment management company's stock worth $4,796,000 after acquiring an additional 830,610 shares during the period. Bank of America Corp DE raised its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 7,654.0% during the 2nd quarter. Bank of America Corp DE now owns 73,353 shares of the investment management company's stock worth $411,000 after acquiring an additional 72,407 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in shares of BNY Mellon Strategic Municipal Bond Fund by 51.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 42,860 shares of the investment management company's stock valued at $240,000 after acquiring an additional 14,630 shares during the last quarter.

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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