BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Short Interest Up 67.6% in December

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) saw a large growth in short interest in December. As of December 31st, there was short interest totaling 110,466 shares, a growth of 67.6% from the December 15th total of 65,924 shares. Based on an average daily trading volume, of 196,061 shares, the short-interest ratio is presently 0.6 days. Currently, 0.2% of the company’s stock are sold short. Currently, 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 196,061 shares, the short-interest ratio is presently 0.6 days.

BNY Mellon Strategic Municipal Bond Fund Price Performance

DSM opened at $6.13 on Friday. The firm has a 50 day moving average of $6.02 and a two-hundred day moving average of $5.86. BNY Mellon Strategic Municipal Bond Fund has a 12-month low of $5.28 and a 12-month high of $6.30.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, January 14th will be given a dividend of $0.023 per share. The ex-dividend date of this dividend is Wednesday, January 14th. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. bought 27,875 shares of the stock in a transaction that occurred on Friday, November 28th. The stock was bought at an average cost of $5.90 per share, for a total transaction of $164,462.50. Following the purchase, the insider directly owned 5,180,466 shares of the company’s stock, valued at approximately $30,564,749.40. This trade represents a 0.54% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Riverbridge Partners LLC lifted its position in shares of BNY Mellon Strategic Municipal Bond Fund by 44.3% during the 4th quarter. Riverbridge Partners LLC now owns 237,540 shares of the investment management company’s stock worth $1,466,000 after buying an additional 72,954 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in BNY Mellon Strategic Municipal Bond Fund in the 3rd quarter valued at approximately $74,000. Bulldog Investors LLP grew its holdings in BNY Mellon Strategic Municipal Bond Fund by 1.1% during the third quarter. Bulldog Investors LLP now owns 2,624,438 shares of the investment management company’s stock worth $15,537,000 after acquiring an additional 27,807 shares during the period. Pathstone Holdings LLC boosted its holdings in BNY Mellon Strategic Municipal Bond Fund by 2.1% during the third quarter. Pathstone Holdings LLC now owns 3,559,421 shares of the investment management company’s stock worth $21,072,000 after buying an additional 73,309 shares in the last quarter. Finally, Lee Financial Co acquired a new position in BNY Mellon Strategic Municipal Bond Fund during the third quarter worth $172,000.

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.