BNY Mellon Municipal Bond Infrastructure Fund (NYSE:DMB) Stock Price Up 3% – Still a Buy?

Shares of BNY Mellon Municipal Bond Infrastructure Fund, Inc. (NYSE:DMB) were up 3% during mid-day trading on Thursday. The stock traded as high as $9.59 and last traded at $9.5660. 162,859 shares were traded during trading, an increase of 161% from the average daily volume of 62,407 shares. The stock had previously closed at $9.29.

BNY Mellon Municipal Bond Infrastructure Fund Trading Up 1.2%

The stock’s fifty day simple moving average is $10.04 and its two-hundred day simple moving average is $10.58.

BNY Mellon Municipal Bond Infrastructure Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Monday, October 19th will be paid a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date is Monday, October 19th.

Institutional Trading of BNY Mellon Municipal Bond Infrastructure Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bulldog Investors LLP lifted its holdings in shares of BNY Mellon Municipal Bond Infrastructure Fund by 30.1% in the 1st quarter. Bulldog Investors LLP now owns 520,749 shares of the company’s stock worth $5,489,000 after purchasing an additional 120,446 shares during the last quarter. Sit Investment Associates Inc. bought a new position in BNY Mellon Municipal Bond Infrastructure Fund during the 4th quarter worth $2,784,000. Hennion & Walsh Asset Management Inc. grew its stake in BNY Mellon Municipal Bond Infrastructure Fund by 14.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 247,088 shares of the company’s stock worth $2,728,000 after buying an additional 31,290 shares during the last quarter. Janney Montgomery Scott LLC increased its position in BNY Mellon Municipal Bond Infrastructure Fund by 10.8% in the first quarter. Janney Montgomery Scott LLC now owns 24,925 shares of the company’s stock worth $263,000 after buying an additional 2,425 shares during the period. Finally, Readystate Asset Management LP acquired a new stake in BNY Mellon Municipal Bond Infrastructure Fund in the second quarter worth $163,000.

BNY Mellon Municipal Bond Infrastructure Fund Company Profile

BNY Mellon Municipal Bond Infrastructure Fund, Inc (NYSE: DMB) is a closed-end investment fund that seeks to provide current income exempt from regular federal income tax. The fund invests primarily in municipal securities issued by states, cities, and other public entities in the United States.

The fund focuses on municipal bonds that finance infrastructure-related projects and public services. These investments may support areas such as transportation, utilities, schools, hospitals, housing, and other essential community facilities.