BNY Mellon New York Tax Exempt Bond Fund, Inc.
DRNYX
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USD
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 240 Greenwich Street New York NY United States of America 10286
- IPO Date
- Jul 26, 1983
- CIK
- 0000723765
- Similar Companies
- Business
- BNY Mellon New York Tax Exempt Bond Fund, Inc. (DRNYX) is a non-diversified mutual fund that seeks as high a level of current income exempt from federal, New York State, and New York City income taxes as is consistent with the preservation of capital. The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in municipal bonds providing such tax-exempt income; up to 20% of assets may be allocated to municipal bonds rated below investment grade (high yield or junk bonds) or unrated equivalents as determined by the investment adviser. It operates within the asset management industry, focusing on the municipal bond segment for tax-sensitive investors primarily in New York. Managed by BNY Mellon Investment Adviser, Inc., a subsidiary of BNY Mellon, the fund is headquartered at 240 Greenwich Street, New York, New York 10286. Founded in 1983, with class inception around 1986, it targets individual and institutional investors seeking tax-advantaged fixed income exposure, concentrating holdings on New York municipal obligations such as general obligation bonds, revenue bonds, and notes from state and local issuers. Geographic operations center on New York-issued securities to maximize triple tax-exempt status. Recent performance reflects market dynamics in municipal bonds, with shares delivering a 3.10% return in Q3 2025 amid a sector rally. As of late 2025, the fund maintains a net asset value around $13.53 per share and approximately $1.00 billion in market capitalization. No major acquisitions, partnerships, funding rounds, or strategic shifts specific to DRNYX have been reported in the last 1-2 years, though it benefits from BNY Mellon's ongoing enhancements to its tax-exempt municipal bond fund lineup.