BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Stock Passes Below 200 Day Moving Average – Should You Sell?

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.04 and traded as low as $5.78. BNY Mellon Strategic Municipal Bond Fund shares last traded at $5.8070, with a volume of 208,183 shares changing hands.

BNY Mellon Strategic Municipal Bond Fund Price Performance

The business’s 50 day moving average is $6.10 and its 200 day moving average is $6.04.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 12th will be paid a dividend of $0.026 per share. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Thursday, March 12th.

Hedge Funds Weigh In On BNY Mellon Strategic Municipal Bond Fund

Several hedge funds have recently made changes to their positions in the company. Thomas J. Herzfeld Advisors Inc. raised its stake in BNY Mellon Strategic Municipal Bond Fund by 186.6% in the 2nd quarter. Thomas J. Herzfeld Advisors Inc. now owns 366,054 shares of the investment management company’s stock worth $2,050,000 after acquiring an additional 238,330 shares during the last quarter. Cerity Partners LLC purchased a new stake in BNY Mellon Strategic Municipal Bond Fund during the 2nd quarter valued at about $56,000. Sit Investment Associates Inc. increased its holdings in shares of 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 valued at $11,491,000 after purchasing an additional 195,867 shares during the period. Closed End Fund Advisors Inc. acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the fourth quarter valued at about $619,000. Finally, Petersen Hastings Wealth Advisors Inc. purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the fourth quarter worth about $178,000.

BNY Mellon Strategic Municipal Bond Fund Company Profile

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.