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

Key Points

• Short interest fell 43.9% to 25,066 shares as of July 15, representing approximately 0.1% of DSM’s outstanding shares and a short-interest ratio of 0.2 days.
• DSM shares slipped 0.1% to $5.88, trading between a 52-week range of $5.47 and $6.30, while remaining below its 50-day and 200-day moving averages.
• The fund declared a $0.03 monthly dividend, implying a 6.1% annualized yield; several institutional investors also recently initiated or increased positions.

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Get Free Report) saw a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 25,066 shares, a decrease of 43.9% from the June 30th total of 44,646 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 124,731 shares, the short-interest ratio is presently 0.2 days.

BNY Mellon Strategic Municipal Bond Fund Trading Down 0.1%

NYSE:DSM traded down $0.01 during trading hours on Wednesday, reaching $5.88. The company had a trading volume of 86,706 shares, compared to its average volume of 101,555. The firm's 50 day moving average price is $6.08 and its 200-day moving average price is $6.09. BNY Mellon Strategic Municipal Bond Fund has a 52 week low of $5.47 and a 52 week high of $6.30.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 14th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, July 14th. This represents a c) annualized dividend and a dividend yield of 6.1%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DSM. Cerity Partners LLC purchased a new stake in shares of BNY Mellon Strategic Municipal Bond Fund during the 2nd quarter valued at about $56,000. Nomura Holdings Inc. bought a new stake in BNY Mellon Strategic Municipal Bond Fund during the third quarter valued at approximately $74,000. BOKF NA bought a new stake in BNY Mellon Strategic Municipal Bond Fund during the fourth quarter valued at approximately $79,000. Janney Montgomery Scott LLC increased its holdings in BNY Mellon Strategic Municipal Bond Fund by 22.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,331 shares of the investment management company's stock valued at $95,000 after buying an additional 2,765 shares during the last quarter. Finally, Novak & Powell Financial Services Inc. purchased a new stake in BNY Mellon Strategic Municipal Bond Fund during the fourth quarter valued at approximately $111,000.

About BNY Mellon Strategic Municipal Bond Fund

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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