BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Short Interest Down 24.6% in March

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) saw a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 60,700 shares, a drop of 24.6% from the February 28th total of 80,500 shares. Based on an average daily volume of 147,800 shares, the days-to-cover ratio is currently 0.4 days.

BNY Mellon Strategic Municipal Bond Fund Stock Up 1.3 %

Shares of DSM opened at $5.85 on Wednesday. BNY Mellon Strategic Municipal Bond Fund has a one year low of $5.54 and a one year high of $6.38. The business has a fifty day moving average of $5.90 and a 200 day moving average of $5.98.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 14th will be issued a $0.018 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Monday, April 14th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Elequin Capital LP purchased a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 4th quarter worth $36,000. Saba Capital Management L.P. grew its holdings in BNY Mellon Strategic Municipal Bond Fund by 2.9% during the fourth quarter. Saba Capital Management L.P. now owns 4,127,582 shares of the investment management company’s stock valued at $23,981,000 after purchasing an additional 116,315 shares during the period. Pathstone Holdings LLC increased its position in BNY Mellon Strategic Municipal Bond Fund by 15.5% in the fourth quarter. Pathstone Holdings LLC now owns 2,474,029 shares of the investment management company’s stock worth $14,397,000 after buying an additional 332,266 shares in the last quarter. Bulldog Investors LLP raised its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 156.2% in the fourth quarter. Bulldog Investors LLP now owns 2,101,361 shares of the investment management company’s stock worth $12,223,000 after buying an additional 1,281,127 shares during the period. Finally, Capstone Investment Advisors LLC bought a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the fourth quarter worth about $869,000.

About BNY Mellon Strategic Municipal Bond Fund

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.