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)’s share price crossed 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 trading hands.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

The firm has a 50-day moving average price of $5.86 and a 200-day moving average price of $6.03.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.018 per share. The ex-dividend date is Friday, February 14th. This represents a $0.22 annualized dividend and a dividend yield of 3.62%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Aviance Capital Partners LLC boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 6.6% in the 3rd quarter. Aviance Capital Partners LLC now owns 27,091 shares of the investment management company’s stock worth $169,000 after purchasing an additional 1,669 shares during the period. Stifel Financial Corp boosted its stake 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 worth $383,000 after purchasing an additional 2,603 shares during the period. Envestnet Asset Management Inc. boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 2.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 174,019 shares of the investment management company’s stock worth $1,011,000 after purchasing an additional 3,506 shares during the period. Elequin Capital LP bought a new position in BNY Mellon Strategic Municipal Bond Fund in the 4th quarter worth about $36,000. Finally, Avior Wealth Management LLC boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 24.9% in the 3rd quarter. Avior Wealth Management LLC now owns 35,258 shares of the investment management company’s stock worth $220,000 after purchasing an additional 7,027 shares during the period.

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.