BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM – Get Free Report) major shareholder Saba Capital Management, L.P. purchased 69,080 shares of BNY Mellon Strategic Municipal Bond Fund stock in a transaction on Monday, October 19th. The shares were acquired at an average price of $5.29 per share, with a total value of $365,433.20. Following the transaction, the insider directly owned 5,400,925 shares in the company, valued at $28,570,893.25. This trade represents a 1.30% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Saba Capital Management, L.P. also recently made the following trade(s):
- On Friday, October 16th, Saba Capital Management, L.P. purchased 138,642 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was acquired at an average cost of $5.27 per share, with a total value of $730,643.34.
- On Thursday, October 15th, Saba Capital Management, L.P. purchased 13,762 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was acquired at an average cost of $5.24 per share, with a total value of $72,112.88.
BNY Mellon Strategic Municipal Bond Fund Price Performance
Shares of DSM opened at $5.32 on Wednesday. BNY Mellon Strategic Municipal Bond Fund, Inc. has a one year low of $5.07 and a one year high of $6.30. The stock’s fifty day moving average is $5.51 and its 200-day moving average is $5.86.
BNY Mellon Strategic Municipal Bond Fund Dividend Announcement
The business also recently disclosed 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 annualized dividend and a yield of 6.8%.
Hedge Funds Weigh In On BNY Mellon Strategic Municipal Bond Fund
Several large investors have recently bought and sold shares of the stock. Bulldog Investors LLP raised its position in shares of BNY Mellon Strategic Municipal Bond Fund by 2.0% during the 1st quarter. Bulldog Investors LLP now owns 3,373,942 shares of the investment management company’s stock worth $20,277,000 after buying an additional 65,851 shares in the last quarter. Rivernorth Capital Management LLC boosted its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 15.7% in the second quarter. Rivernorth Capital Management LLC now owns 1,920,587 shares of the investment management company’s stock valued at $11,812,000 after acquiring an additional 260,230 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 87.7% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 1,476,212 shares of the investment management company’s stock valued at $9,079,000 after acquiring an additional 689,844 shares in the last quarter. Robinson Capital Management LLC raised its holdings in BNY Mellon Strategic Municipal Bond Fund by 9.8% during the second quarter. Robinson Capital Management LLC now owns 467,193 shares of the investment management company’s stock worth $2,878,000 after purchasing an additional 41,717 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings 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 worth $2,605,000 after purchasing an additional 6,849 shares in 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.
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