BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Share Price Breaks Below Two Hundred Day Moving Average – What’s Next?

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $5.90 and traded as low as $5.07. BNY Mellon Strategic Municipal Bond Fund shares last traded at $5.1150, with a volume of 160,347 shares trading hands.

BNY Mellon Strategic Municipal Bond Fund Stock Up 1.3%

The stock has a 50 day simple moving average of $5.59 and a 200-day simple moving average of $5.89.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, October 14th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 6.9%.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

A number of hedge funds have recently bought and sold shares of DSM. Integrated Capital Management Inc. grew its position in BNY Mellon Strategic Municipal Bond Fund by 10.6% in the third quarter. Integrated Capital Management Inc. now owns 30,740 shares of the investment management company’s stock worth $160,000 after acquiring an additional 2,944 shares in the last quarter. Noble Wealth Management PBC increased its stake in BNY Mellon Strategic Municipal Bond Fund by 7.2% during the second quarter. Noble Wealth Management PBC now owns 65,733 shares of the investment management company’s stock worth $404,000 after acquiring an additional 4,400 shares during the last quarter. Van ECK Associates Corp raised its position in BNY Mellon Strategic Municipal Bond Fund by 1.6% during the second quarter. Van ECK Associates Corp now owns 423,652 shares of the investment management company’s stock valued at $2,605,000 after purchasing an additional 6,849 shares during the period. Readystate Asset Management LP bought a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 2nd quarter valued at approximately $88,000. Finally, Robinson Capital Management LLC lifted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 9.8% in the 2nd quarter. Robinson Capital Management LLC now owns 467,193 shares of the investment management company’s stock valued at $2,878,000 after purchasing an additional 41,717 shares during the last quarter.

About BNY Mellon Strategic Municipal Bond Fund

BNY Mellon Strategic Municipal Bond Fund (NYSE: DSM) is a closed-end investment company that seeks to provide current income exempt from regular federal income tax. The fund invests primarily in municipal bonds and other municipal obligations issued by states, cities, counties, public authorities and other governmental entities in the United States.

The fund’s portfolio may include a range of tax-exempt securities with different maturities, credit qualities and structures. Its investments are designed to generate income for shareholders while providing exposure to the U.S.