Dreyfus Strategic Municipal Bond Fund (NYSE:DSM) Share Price Passes Below 50-Day Moving Average of $8.38

Shares of Dreyfus Strategic Municipal Bond Fund, Inc. (NYSE:DSM) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $8.38 and traded as low as $7.99. Dreyfus Strategic Municipal Bond Fund shares last traded at $8.00, with a volume of 5,617 shares.

The business’s 50 day moving average price is $8.38 and its 200 day moving average price is $8.28.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pacitti Group Inc. purchased a new position in Dreyfus Strategic Municipal Bond Fund during the third quarter valued at approximately $305,000. Bank of America Corp DE lifted its stake in Dreyfus Strategic Municipal Bond Fund by 13.5% during the second quarter. Bank of America Corp DE now owns 127,250 shares of the investment management company’s stock worth $1,009,000 after purchasing an additional 15,169 shares during the last quarter. LPL Financial LLC lifted its stake in Dreyfus Strategic Municipal Bond Fund by 3.7% during the second quarter. LPL Financial LLC now owns 68,694 shares of the investment management company’s stock worth $545,000 after purchasing an additional 2,443 shares during the last quarter. Morgan Stanley lifted its stake in Dreyfus Strategic Municipal Bond Fund by 9.6% during the second quarter. Morgan Stanley now owns 279,554 shares of the investment management company’s stock worth $2,217,000 after purchasing an additional 24,554 shares during the last quarter. Finally, Nwam LLC purchased a new stake in Dreyfus Strategic Municipal Bond Fund during the third quarter worth approximately $338,000. 6.38% of the stock is currently owned by institutional investors.

About Dreyfus Strategic Municipal Bond Fund (NYSE:DSM)

Dreyfus Strategic Municipal Bond Fund, Inc is a closed ended fixed income mutual fund launched and managed by The Dreyfus Corporation. 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. The fund seeks to maintain a weighted average maturity of greater than 10 years.

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