BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Stock Crosses Below 50-Day Moving Average - Here's Why

Key Points

• DSM shares crossed below their 50-day moving average of $6.16, trading as low as $6.05 and last at $6.0650 (the 200-day MA is $6.01), signaling short-term technical weakness.
• The fund declared a monthly dividend of $0.026 (ex-dividend and record date March 12; payable March 31), implying an approximate 5.1% yield.
• Several managers recently initiated or added small positions in the fund, with Janney Montgomery Scott boosting its stake 22% to 15,331 shares (about $95,000), showing modest institutional interest.

Shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Get Free Report) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $6.16 and traded as low as $6.05. BNY Mellon Strategic Municipal Bond Fund shares last traded at $6.0650, with a volume of 46,025 shares trading hands.

BNY Mellon Strategic Municipal Bond Fund Trading Down 0.6%

The firm's 50 day moving average is $6.16 and its two-hundred day moving average is $6.01.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 12th will be paid a $0.026 dividend. The ex-dividend date is Thursday, March 12th. This represents a c) annualized dividend and a dividend yield of 5.1%.

Institutional Trading of BNY Mellon Strategic Municipal Bond Fund

Several hedge funds have recently modified their holdings of the stock. Root Financial Partners LLC acquired a new position in BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter worth $48,000. Cerity Partners LLC acquired a new stake in BNY Mellon Strategic Municipal Bond Fund in the 2nd quarter valued at about $56,000. Nomura Holdings Inc. acquired a new stake in BNY Mellon Strategic Municipal Bond Fund in the 3rd quarter valued at about $74,000. BOKF NA purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the 4th quarter valued at about $79,000. Finally, Janney Montgomery Scott LLC boosted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 22.0% in 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 during the period.

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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