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

Key Points

• Short interest increased 51% to 80,661 shares as of September 15, representing 0.2% of DSM’s shares and 0.9 days of average trading volume.
• Several institutional investors expanded their positions, including Hennion & Walsh Asset Management, which increased its stake by 87.7%, and RiverNorth Capital Management, which added 15.7%.
• DSM shares fell 0.5% to $5.18, near the lower end of their 52-week range, while the fund declared a monthly $0.03 dividend, equivalent to a 6.9% annualized yield.

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Get Free Report) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 80,661 shares, a growth of 51.0% from the August 31st total of 53,403 shares. Based on an average daily trading volume, of 94,628 shares, the short-interest ratio is presently 0.9 days. Currently, 0.2% of the shares of the company are sold short.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

Several hedge funds have recently added to or reduced their stakes in the company. Bulldog Investors LLP grew its holdings in BNY Mellon Strategic Municipal Bond Fund by 2.0% in the 1st quarter. Bulldog Investors LLP now owns 3,373,942 shares of the investment management company's stock worth $20,277,000 after acquiring an additional 65,851 shares during the last quarter. Rivernorth Capital Management LLC boosted its position in shares of BNY Mellon Strategic Municipal Bond Fund by 15.7% during the second quarter. Rivernorth Capital Management LLC now owns 1,920,587 shares of the investment management company's stock valued at $11,812,000 after purchasing an additional 260,230 shares in the last quarter. Sit Investment Associates Inc. grew its stake in BNY Mellon Strategic Municipal Bond Fund by 11.8% in the fourth quarter. Sit Investment Associates Inc. now owns 1,862,381 shares of the investment management company's stock worth $11,491,000 after purchasing an additional 195,867 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 87.7% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,476,212 shares of the investment management company's stock worth $9,079,000 after acquiring an additional 689,844 shares in the last quarter. Finally, Robinson Capital Management LLC increased its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 9.8% during the second quarter. Robinson Capital Management LLC now owns 467,193 shares of the investment management company's stock valued at $2,878,000 after purchasing an additional 41,717 shares in the last quarter.

BNY Mellon Strategic Municipal Bond Fund Stock Down 0.5%

DSM stock traded down $0.03 during mid-day trading on Thursday, reaching $5.18. 714,868 shares of the company traded hands, compared to its average volume of 116,402. The company has a fifty day moving average price of $5.70 and a 200-day moving average price of $5.93. BNY Mellon Strategic Municipal Bond Fund has a 52-week low of $5.07 and a 52-week high of $6.30.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 6.9%.

BNY Mellon Strategic Municipal Bond Fund Company Profile

BNY Mellon Strategic Municipal Bond Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol DSM. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in municipal bonds and other municipal obligations.

The fund's portfolio may include debt issued by states, cities, counties, and other governmental entities, as well as related public authorities. These securities generally finance public infrastructure and essential services, including schools, transportation systems, utilities, and healthcare facilities.

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