BNY Mellon Municipal Bond Infrastructure Fund (NYSE:DMB) Shares Down 1.4% – Time to Sell?

BNY Mellon Municipal Bond Infrastructure Fund, Inc. (NYSE:DMB) dropped 1.4% during trading on Thursday. The company traded as low as $9.62 and last traded at $9.6240. 115,410 shares changed hands during trading, an increase of 102% from the average session volume of 57,252 shares. The stock had previously closed at $9.76.

BNY Mellon Municipal Bond Infrastructure Fund Stock Performance

The firm has a 50 day moving average price of $10.45 and a two-hundred day moving average price of $10.73.

BNY Mellon Municipal Bond Infrastructure Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 17th will be given a dividend of $0.05 per share. This represents a $0.60 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date is Thursday, September 17th.

Institutional Trading of BNY Mellon Municipal Bond Infrastructure Fund

Several hedge funds and other institutional investors have recently modified their holdings of the business. Triumph Capital Management boosted its holdings in BNY Mellon Municipal Bond Infrastructure Fund by 17.8% in the 2nd quarter. Triumph Capital Management now owns 8,450 shares of the company’s stock worth $93,000 after buying an additional 1,275 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new stake in BNY Mellon Municipal Bond Infrastructure Fund during the 1st quarter valued at $125,000. Readystate Asset Management LP bought a new stake in BNY Mellon Municipal Bond Infrastructure Fund during the 2nd quarter valued at $163,000. Closed End Fund Advisors Inc. bought a new stake in BNY Mellon Municipal Bond Infrastructure Fund during the 4th quarter valued at $183,000. Finally, Janney Montgomery Scott LLC lifted its position in shares of BNY Mellon Municipal Bond Infrastructure Fund by 10.8% during the first quarter. Janney Montgomery Scott LLC now owns 24,925 shares of the company’s stock worth $263,000 after acquiring an additional 2,425 shares in the last quarter.

BNY Mellon Municipal Bond Infrastructure Fund Company Profile

BNY Mellon Municipal Bond Infrastructure Fund (NYSE: DMB) is a closed-end investment fund managed by BNY Mellon Investment Adviser, Inc The fund seeks to provide a high level of current income that is exempt from regular federal income tax, while also pursuing opportunities for capital appreciation.

The fund invests primarily in municipal obligations issued by states, municipalities and other governmental entities. Its portfolio emphasizes bonds that finance infrastructure-related projects and public services, which may include transportation, utilities, education, healthcare and other essential facilities.