BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Shares Pass Below 200 Day Moving Average - Here's What Happened

Key Points

• BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) dipped below its 200‑day moving average of $6.05, trading as low as $6.00 and last at $6.01 on volume of 77,748 shares (down about 0.7%).
• The fund announced a monthly dividend of $0.026 per share, payable April 30 to shareholders of record April 14, implying an annualized dividend yield of about 5.2%.
• Several institutional investors increased their positions—including Saba Capital, Pathstone, Bulldog Investors, Sit Investment Associates and Guggenheim—with Bulldog (+26%) and Guggenheim (+29%) among the largest percentage increases.

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Get Free Report) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.05 and traded as low as $6.00. BNY Mellon Strategic Municipal Bond Fund shares last traded at $6.01, with a volume of 77,748 shares changing hands.

BNY Mellon Strategic Municipal Bond Fund Trading Down 0.7%

The stock's 50 day simple moving average is $6.05 and its two-hundred day simple moving average is $6.05.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, April 14th will be paid a dividend of $0.026 per share. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

A number of institutional investors have recently made changes to their positions in the company. Saba Capital Management L.P. grew its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 0.5% during the fourth quarter. Saba Capital Management L.P. now owns 5,179,441 shares of the investment management company's stock valued at $31,957,000 after buying an additional 26,850 shares during the last quarter. Pathstone Holdings LLC grew its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 2.1% during the third quarter. Pathstone Holdings LLC now owns 3,559,421 shares of the investment management company's stock valued at $21,072,000 after buying an additional 73,309 shares during the last quarter. Bulldog Investors LLP grew its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 26.0% during the fourth quarter. Bulldog Investors LLP now owns 3,308,091 shares of the investment management company's stock valued at $20,411,000 after buying an additional 683,653 shares during the last quarter. Sit Investment Associates Inc. grew its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 11.8% during the fourth quarter. Sit Investment Associates Inc. now owns 1,862,381 shares of the investment management company's stock valued at $11,491,000 after buying an additional 195,867 shares during the last quarter. Finally, Guggenheim Capital LLC grew its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 29.0% during the fourth quarter. Guggenheim Capital LLC now owns 1,239,418 shares of the investment management company's stock valued at $7,647,000 after buying an additional 278,303 shares during the last quarter.

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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