BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Stock Passes Below 50-Day Moving Average – Here’s What Happened

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) shares crossed 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.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

The stock has a 50 day simple moving average of $6.00 and a 200 day simple moving average of $6.04.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

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

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

Institutional investors have recently bought and sold shares of the stock. Pathstone Holdings LLC raised its holdings in shares of 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 worth $13,344,000 after purchasing an additional 428,411 shares in the last quarter. Almitas Capital LLC grew its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 144.1% in the 2nd quarter. Almitas Capital LLC now owns 559,398 shares of the investment management company’s stock worth $3,323,000 after acquiring an additional 330,189 shares during the last quarter. Rivernorth Capital Management LLC raised its holdings in BNY Mellon Strategic Municipal Bond Fund by 13.7% during the 3rd quarter. Rivernorth Capital Management LLC now owns 1,666,877 shares of the investment management company’s stock worth $10,385,000 after buying an additional 201,105 shares during the period. Whitebox Advisors LLC purchased a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 2nd quarter valued at approximately $985,000. Finally, HighTower Advisors LLC grew its stake in BNY Mellon Strategic Municipal Bond Fund by 220.5% during the 3rd quarter. HighTower Advisors LLC now owns 110,992 shares of the investment management company’s stock valued at $689,000 after acquiring an additional 76,362 shares in 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.