BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Share Price Crosses Below 200-Day Moving Average - Time to Sell?

Key Points

• DSM shares fell below their 200-day moving average of $6.06, trading as low as $5.82 and last changing hands at $5.84 on volume of 90,007 shares.
• The fund declared a monthly dividend of $0.03 per share, implying a 6.2% annualized yield; payment is scheduled for August 31 to shareholders of record on August 13.
• Institutional interest was mixed but generally increased, with several firms establishing new positions and Janney Montgomery Scott raising its stake by 22%.

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Get Free Report)'s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.06 and traded as low as $5.82. BNY Mellon Strategic Municipal Bond Fund shares last traded at $5.84, with a volume of 90,007 shares changing hands.

BNY Mellon Strategic Municipal Bond Fund Trading Down 0.2%

The firm has a fifty day simple moving average of $6.01 and a two-hundred day simple moving average of $6.06.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Thursday, August 13th will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, August 13th. This represents a c) annualized dividend and a dividend yield of 6.2%.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

Several large investors have recently added to or reduced their stakes in DSM. Cerity Partners LLC purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the second quarter worth about $56,000. Nomura Holdings Inc. bought a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the third quarter valued at approximately $74,000. BOKF NA purchased a new stake in shares of BNY Mellon Strategic Municipal Bond Fund during the 4th quarter valued at approximately $79,000. Janney Montgomery Scott LLC lifted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 22.0% during the 4th 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 in the last quarter. Finally, Novak & Powell Financial Services Inc. purchased a new stake in shares of BNY Mellon Strategic Municipal Bond Fund during the 4th 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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