Short Interest in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Rises By 623.0%

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSMGet Rating) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 53,500 shares, a growth of 623.0% from the March 15th total of 7,400 shares. Based on an average daily volume of 124,900 shares, the days-to-cover ratio is currently 0.4 days.

A number of institutional investors have recently made changes to their positions in the business. Kestra Advisory Services LLC acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the 3rd quarter valued at $745,000. XML Financial LLC purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the third quarter worth about $114,000. Raymond James & Associates increased its position in shares of BNY Mellon Strategic Municipal Bond Fund by 22.5% during the third quarter. Raymond James & Associates now owns 202,015 shares of the investment management company’s stock worth $1,612,000 after purchasing an additional 37,084 shares in the last quarter. Van ECK Associates Corp increased its position in shares of BNY Mellon Strategic Municipal Bond Fund by 3.0% during the third quarter. Van ECK Associates Corp now owns 262,481 shares of the investment management company’s stock worth $2,095,000 after purchasing an additional 7,703 shares in the last quarter. Finally, Moors & Cabot Inc. acquired a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 3rd quarter valued at about $457,000. Institutional investors own 25.87% of the company’s stock.

NYSE DSM traded down $0.01 during trading on Tuesday, reaching $6.90. 1,390 shares of the company’s stock were exchanged, compared to its average volume of 122,372. BNY Mellon Strategic Municipal Bond Fund has a 1 year low of $6.83 and a 1 year high of $8.59. The stock has a 50 day simple moving average of $7.19.

The firm also recently announced a monthly dividend, which will be paid on Friday, April 29th. Investors of record on Thursday, April 14th will be paid a dividend of $0.03 per share. This represents a $0.36 annualized dividend and a yield of 5.22%. The ex-dividend date is Wednesday, April 13th.

About BNY Mellon Strategic Municipal Bond Fund (Get Rating)

BNY Mellon Strategic Municipal Bond Fund, Inc operates as closed-end management investment company. Its investment objective is to maximize current income exempt from federal income tax to the extent consistent with the preservation of capital. The company was founded in 1989 and is headquartered in New York, NY.

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