BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Raises Dividend to $0.03 Per Share

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) announced a monthly dividend on Thursday, January 22nd. Investors of record on Thursday, February 12th will be given a dividend of 0.026 per share by the investment management company on Friday, February 27th. This represents a c) annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Thursday, February 12th. This is a 13.0% increase from BNY Mellon Strategic Municipal Bond Fund’s previous monthly dividend of $0.02.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

Shares of BNY Mellon Strategic Municipal Bond Fund stock opened at $6.03 on Friday. The company’s fifty day simple moving average is $6.03 and its 200-day simple moving average is $5.87. BNY Mellon Strategic Municipal Bond Fund has a 1 year low of $5.28 and a 1 year high of $6.30.

Insider Activity at BNY Mellon Strategic Municipal Bond Fund

In other news, major shareholder Saba Capital Management, L.P. bought 27,875 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The shares were acquired at an average price of $5.90 per share, with a total value of $164,462.50. Following the transaction, the insider owned 5,180,466 shares in the company, valued at $30,564,749.40. This represents a 0.54% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Trading of BNY Mellon Strategic Municipal Bond Fund

Several institutional investors have recently added to or reduced their stakes in DSM. Integrated Capital Management Inc. increased its holdings in BNY Mellon Strategic Municipal Bond Fund by 20.4% in the second quarter. Integrated Capital Management Inc. now owns 40,069 shares of the investment management company’s stock valued at $224,000 after purchasing an additional 6,776 shares during the period. Thomas J. Herzfeld Advisors Inc. boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 186.6% during the 2nd quarter. Thomas J. Herzfeld Advisors Inc. now owns 366,054 shares of the investment management company’s stock valued at $2,050,000 after purchasing an additional 238,330 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 9.6% in the second quarter. Park Avenue Securities LLC now owns 174,448 shares of the investment management company’s stock valued at $977,000 after purchasing an additional 15,336 shares during the last quarter. Traub Capital Management LLC purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the 2nd quarter worth approximately $297,000. Finally, Camelot Portfolios LLC grew its position in BNY Mellon Strategic Municipal Bond Fund by 7.4% during the second quarter. Camelot Portfolios LLC now owns 41,854 shares of the investment management company’s stock valued at $234,000 after buying an additional 2,894 shares during the period.

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.