Short Interest in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Drops By 50.3%

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) saw a significant decline in short interest in December. As of December 15th, there was short interest totaling 65,924 shares, a decline of 50.3% from the November 30th total of 132,761 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 198,904 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 198,904 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the shares of the company are sold short.

BNY Mellon Strategic Municipal Bond Fund Trading Up 0.2%

Shares of DSM traded up $0.02 during midday trading on Friday, hitting $6.03. 135,135 shares of the company traded hands, compared to its average volume of 197,504. BNY Mellon Strategic Municipal Bond Fund has a one year low of $5.28 and a one year high of $6.10. The stock has a 50-day moving average of $5.98 and a 200-day moving average of $5.80.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Thursday, December 11th will be issued a $0.023 dividend. The ex-dividend date is Thursday, December 11th. This represents a c) annualized dividend and a dividend yield of 4.6%.

Insider Transactions at BNY Mellon Strategic Municipal Bond Fund

In related news, major shareholder Saba Capital Management, L.P. bought 27,875 shares of the business’s stock in a transaction on Friday, November 28th. The stock was acquired at an average price of $5.90 per share, for a total transaction of $164,462.50. Following the purchase, the insider directly owned 5,180,466 shares in the company, valued at $30,564,749.40. This trade represents a 0.54% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

Several institutional investors have recently added to or reduced their stakes in DSM. Root Financial Partners LLC bought a new stake in BNY Mellon Strategic Municipal Bond Fund in the 3rd quarter worth $48,000. Cerity Partners LLC bought a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the second quarter worth about $56,000. Nomura Holdings Inc. bought a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the third quarter worth about $74,000. Landscape Capital Management L.L.C. increased its holdings in BNY Mellon Strategic Municipal Bond Fund by 46.4% during the 1st quarter. Landscape Capital Management L.L.C. now owns 21,262 shares of the investment management company’s stock valued at $123,000 after purchasing an additional 6,735 shares during the period. Finally, Lee Financial Co bought a new position in BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter valued at approximately $172,000.

About BNY Mellon Strategic Municipal Bond Fund

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.