BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Short Interest Up 27.1% in May

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM – Get Rating) was the target of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 8,900 shares, a growth of 27.1% from the May 15th total of 7,000 shares. Based on an average trading volume of 130,700 shares, the short-interest ratio is presently 0.1 days.

Shares of DSM stock traded down $0.10 during trading on Thursday, hitting $6.13. The company’s stock had a trading volume of 1,010 shares, compared to its average volume of 126,928. The business has a fifty day moving average of $6.53 and a 200-day moving average of $7.27. BNY Mellon Strategic Municipal Bond Fund has a 52 week low of $6.17 and a 52 week high of $8.59.

The firm also recently announced a monthly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Tuesday, June 14th will be given a dividend of $0.03 per share. This represents a $0.36 annualized dividend and a dividend yield of 5.87%. The ex-dividend date is Monday, June 13th.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its position in BNY Mellon Strategic Municipal Bond Fund by 121.0% during the third quarter. Royal Bank of Canada now owns 6,084 shares of the investment management company’s stock worth $48,000 after acquiring an additional 3,331 shares during the last quarter. Brookstone Capital Management purchased a new position in BNY Mellon Strategic Municipal Bond Fund during the 1st quarter worth $73,000. Jane Street Group LLC purchased a new position in BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter worth $89,000. Landscape Capital Management L.L.C. purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the 1st quarter valued at about $93,000. Finally, Dynamic Advisor Solutions LLC grew its stake in BNY Mellon Strategic Municipal Bond Fund by 16.0% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 14,506 shares of the investment management company’s stock valued at $103,000 after acquiring an additional 2,000 shares during the last quarter. 27.18% of the stock is owned by institutional investors and hedge funds.

BNY Mellon Strategic Municipal Bond Fund Company Profile (Get Rating)

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.

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