BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Share Price Passes Below Fifty Day Moving Average – Here’s Why

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)’s stock price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $6.00 and traded as low as $5.73. BNY Mellon Strategic Municipal Bond Fund shares last traded at $5.75, with a volume of 254,781 shares changing hands.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

The business has a 50-day moving average of $6.00 and a 200 day moving average of $6.04.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.018 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.76%.

Hedge Funds Weigh In On BNY Mellon Strategic Municipal Bond Fund

Several institutional investors and hedge funds have recently modified their holdings of DSM. Wolverine Asset Management LLC raised its holdings in BNY Mellon Strategic Municipal Bond Fund by 220.9% in the 2nd quarter. Wolverine Asset Management LLC now owns 11,232 shares of the investment management company’s stock valued at $67,000 after acquiring an additional 7,732 shares during the last quarter. MidWestOne Financial Group Inc. acquired a new position in BNY Mellon Strategic Municipal Bond Fund in the third quarter valued at $76,000. Arbor Trust Wealth Advisors LLC purchased a new position in BNY Mellon Strategic Municipal Bond Fund during the second quarter worth about $77,000. Advisor OS LLC boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 10.3% in the 2nd quarter. Advisor OS LLC now owns 20,966 shares of the investment management company’s stock worth $125,000 after buying an additional 1,955 shares during the last quarter. Finally, Benjamin Edwards Inc. acquired a new stake in BNY Mellon Strategic Municipal Bond Fund in the 3rd quarter worth about $149,000.

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.