BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.06 and traded as low as $5.82. BNY Mellon Strategic Municipal Bond Fund shares last traded at $5.84, with a volume of 90,007 shares traded.

BNY Mellon Strategic Municipal Bond Fund Trading Down 0.9%

The firm’s fifty day moving average price is $6.01 and its 200-day moving average price is $6.06.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Thursday, August 13th will be paid a $0.03 dividend. This represents a c) annualized dividend and a dividend yield of 6.2%. The ex-dividend date is Thursday, August 13th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Cerity Partners LLC bought a new stake in BNY Mellon Strategic Municipal Bond Fund in the second quarter valued at approximately $56,000. Nomura Holdings Inc. acquired a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the third quarter valued at approximately $74,000. BOKF NA acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the 4th quarter worth about $79,000. Janney Montgomery Scott LLC increased its holdings in BNY Mellon Strategic Municipal Bond Fund by 22.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,331 shares of the investment management company’s stock worth $95,000 after buying an additional 2,765 shares during the last quarter. Finally, Novak & Powell Financial Services Inc. bought a new position in BNY Mellon Strategic Municipal Bond Fund during the fourth quarter worth about $111,000.

About BNY Mellon Strategic Municipal Bond Fund

BNY Mellon Strategic Municipal Bond Fund Inc (NYSE: DSM) is a closed-end, diversified management investment company sponsored by The Bank of New York Mellon Corporation. Launched in 2007, DSM is listed on the New York Stock Exchange and offers investors access to a professionally managed portfolio of municipal debt securities. As a publicly traded fund, DSM combines the liquidity of the secondary market with the long-term investment horizon of a mutual fund structure.

The fund’s primary objective is to provide current income exempt from federal income tax.