BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Shares Sold by Benjamin Edwards Inc.

Benjamin Edwards Inc. reduced its stake in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) by 16.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,649 shares of the investment management company’s stock after selling 7,712 shares during the period. Benjamin Edwards Inc.’s holdings in BNY Mellon Strategic Municipal Bond Fund were worth $223,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Elequin Capital LP acquired a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the fourth quarter valued at $36,000. Smallwood Wealth Investment Management LLC purchased a new position in BNY Mellon Strategic Municipal Bond Fund in the first quarter valued at $37,000. CJM Wealth Advisers Ltd. purchased a new position in BNY Mellon Strategic Municipal Bond Fund in the first quarter valued at $86,000. Janney Montgomery Scott LLC purchased a new position in BNY Mellon Strategic Municipal Bond Fund in the first quarter valued at $111,000. Finally, Aviance Capital Partners LLC increased its holdings in BNY Mellon Strategic Municipal Bond Fund by 11.2% in the first quarter. Aviance Capital Partners LLC now owns 30,172 shares of the investment management company’s stock valued at $174,000 after buying an additional 3,038 shares during the last quarter.

Insider Buying and Selling

In other BNY Mellon Strategic Municipal Bond Fund news, major shareholder Saba Capital Management, L.P. bought 6,350 shares of the company’s stock in a transaction that occurred on Thursday, June 26th. The shares were purchased at an average price of $5.55 per share, with a total value of $35,242.50. Following the completion of the acquisition, the insider directly owned 5,152,591 shares of the company’s stock, valued at $28,596,880.05. This represents a 0.12% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

BNY Mellon Strategic Municipal Bond Fund Price Performance

NYSE:DSM opened at $5.61 on Friday. The business’s fifty day moving average price is $5.58 and its 200 day moving average price is $5.69. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 12 month low of $5.28 and a 12 month high of $6.38.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, August 29th. Investors of record on Wednesday, August 13th will be issued a $0.023 dividend. This represents a c) annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Wednesday, August 13th.

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.