BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Share Price Crosses Below 200-Day Moving Average – Here’s Why

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.03 and traded as low as $5.94. BNY Mellon Strategic Municipal Bond Fund shares last traded at $5.98, with a volume of 271,597 shares traded.

BNY Mellon Strategic Municipal Bond Fund Price Performance

The business has a fifty day moving average of $5.86 and a 200-day moving average of $6.03.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.018 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Friday, February 14th.

Hedge Funds Weigh In On BNY Mellon Strategic Municipal Bond Fund

Large investors have recently modified their holdings of the company. Park Avenue Securities LLC raised its position in BNY Mellon Strategic Municipal Bond Fund by 6.3% in the 4th quarter. Park Avenue Securities LLC now owns 162,065 shares of the investment management company’s stock valued at $942,000 after buying an additional 9,666 shares during the last quarter. Stifel Financial Corp raised its position in BNY Mellon Strategic Municipal Bond Fund by 4.4% in the 3rd quarter. Stifel Financial Corp now owns 61,442 shares of the investment management company’s stock valued at $383,000 after buying an additional 2,603 shares during the last quarter. HighTower Advisors LLC raised its position in BNY Mellon Strategic Municipal Bond Fund by 220.5% in the 3rd quarter. HighTower Advisors LLC now owns 110,992 shares of the investment management company’s stock valued at $689,000 after buying an additional 76,362 shares during the last quarter. Benjamin Edwards Inc. purchased a new stake in BNY Mellon Strategic Municipal Bond Fund in the 3rd quarter valued at $149,000. Finally, Pathstone Holdings LLC raised its position in BNY Mellon Strategic Municipal Bond Fund by 25.0% in the 3rd quarter. Pathstone Holdings LLC now owns 2,141,763 shares of the investment management company’s stock valued at $13,344,000 after buying an additional 428,411 shares during the last quarter.

BNY Mellon Strategic Municipal Bond Fund Company Profile

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.