Short Interest in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Drops By 24.6%

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 60,700 shares, a drop of 24.6% from the February 28th total of 80,500 shares. Based on an average daily trading volume, of 147,800 shares, the days-to-cover ratio is presently 0.4 days.

BNY Mellon Strategic Municipal Bond Fund Price Performance

Shares of BNY Mellon Strategic Municipal Bond Fund stock opened at $5.78 on Monday. The business has a 50-day simple moving average of $5.90 and a 200-day simple moving average of $5.99. BNY Mellon Strategic Municipal Bond Fund has a one year low of $5.54 and a one year high of $6.38.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.018 per share. This represents a $0.22 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Friday, March 14th.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

A number of large investors have recently modified their holdings of the company. Bulldog Investors LLP lifted its position in shares of BNY Mellon Strategic Municipal Bond Fund by 156.2% during the 4th quarter. Bulldog Investors LLP now owns 2,101,361 shares of the investment management company’s stock worth $12,223,000 after purchasing an additional 1,281,127 shares during the last quarter. Almitas Capital LLC purchased a new stake in BNY Mellon Strategic Municipal Bond Fund during the 4th quarter worth about $3,634,000. Whitebox Advisors LLC lifted its holdings in BNY Mellon Strategic Municipal Bond Fund by 222.7% during the 4th quarter. Whitebox Advisors LLC now owns 619,946 shares of the investment management company’s stock worth $3,602,000 after buying an additional 427,819 shares during the last quarter. Pathstone Holdings LLC boosted its position in shares of BNY Mellon Strategic Municipal Bond Fund by 15.5% during the 4th quarter. Pathstone Holdings LLC now owns 2,474,029 shares of the investment management company’s stock worth $14,397,000 after acquiring an additional 332,266 shares in the last quarter. Finally, Rivernorth Capital Management LLC increased its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 13.7% in the 3rd quarter. Rivernorth Capital Management LLC now owns 1,666,877 shares of the investment management company’s stock valued at $10,385,000 after acquiring an additional 201,105 shares during the last quarter.

About BNY Mellon Strategic Municipal Bond Fund

BNY Mellon Strategic Municipal Bond Fund, Inc is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc The fund invests in the fixed income markets of the United States. It primarily invests in investment grade municipal bonds which are exempt from federal income tax.