BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Shares Cross Above 50 Day Moving Average - Here's Why

Key Points

• Shares of BNY Mellon Strategic Municipal Bond Fund recently crossed above its 50-day moving average, currently at $5.78, reaching as high as $5.98 during trading.
• The fund declared a $0.023 monthly dividend for shareholders of record as of October 14th, representing an annualized yield of 4.6%.
• Institutional investors have been active, with several firms increasing their stakes in the fund, including a significant 46.4% increase by Landscape Capital Management L.L.C. in Q1.

Shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - ) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $5.78 and traded as high as $5.98. BNY Mellon Strategic Municipal Bond Fund shares last traded at $5.97, with a volume of 48,251 shares changing hands.

BNY Mellon Strategic Municipal Bond Fund Stock Up 0.5%

The company's fifty day simple moving average is $5.78 and its two-hundred day simple moving average is $5.66.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, October 14th will be issued a $0.023 dividend. This represents a c) annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, October 14th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Invesco Ltd. raised its holdings in BNY Mellon Strategic Municipal Bond Fund by 5.3% in the 1st quarter. Invesco Ltd. now owns 41,405 shares of the investment management company's stock valued at $239,000 after acquiring an additional 2,094 shares during the period. Camelot Portfolios LLC raised its holdings in BNY Mellon Strategic Municipal Bond Fund by 7.4% in the 2nd quarter. Camelot Portfolios LLC now owns 41,854 shares of the investment management company's stock valued at $234,000 after acquiring an additional 2,894 shares during the period. Aviance Capital Partners LLC raised its holdings in BNY Mellon Strategic Municipal Bond Fund by 11.2% in the 1st quarter. Aviance Capital Partners LLC now owns 30,172 shares of the investment management company's stock valued at $174,000 after acquiring an additional 3,038 shares during the period. Smallwood Wealth Investment Management LLC bought a new position in BNY Mellon Strategic Municipal Bond Fund in the 1st quarter valued at about $37,000. Finally, Landscape Capital Management L.L.C. raised its holdings in BNY Mellon Strategic Municipal Bond Fund by 46.4% in the 1st quarter. Landscape Capital Management L.L.C. now owns 21,262 shares of the investment management company's stock valued at $123,000 after acquiring an additional 6,735 shares during the period.

About BNY Mellon Strategic Municipal Bond Fund

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.

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