BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM – Get Free Report) major shareholder Saba Capital Management, L.P. purchased 1,992 shares of the stock in a transaction dated Wednesday, October 28th. The shares were acquired at an average price of $5.43 per share, with a total value of $10,816.56. Following the transaction, the insider owned 5,472,376 shares in the company, valued at $29,715,001.68. This trade represents a 0.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Saba Capital Management, L.P. also recently made the following trade(s):
- On Tuesday, October 27th, Saba Capital Management, L.P. purchased 13,695 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were acquired at an average cost of $5.63 per share, with a total value of $77,102.85.
- On Monday, October 26th, Saba Capital Management, L.P. acquired 20,616 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was acquired at an average price of $5.40 per share, for a total transaction of $111,326.40.
- On Wednesday, October 21st, Saba Capital Management, L.P. acquired 20,575 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was acquired at an average cost of $5.32 per share, for a total transaction of $109,459.00.
- On Tuesday, October 20th, Saba Capital Management, L.P. acquired 14,573 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was acquired at an average cost of $5.32 per share, for a total transaction of $77,528.36.
- On Monday, October 19th, Saba Capital Management, L.P. bought 69,080 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were acquired at an average cost of $5.29 per share, with a total value of $365,433.20.
- On Friday, October 16th, Saba Capital Management, L.P. acquired 138,642 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were bought 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. acquired 13,762 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was bought at an average price of $5.24 per share, with a total value of $72,112.88.
BNY Mellon Strategic Municipal Bond Fund Trading Up 2.0%
NYSE:DSM traded up $0.11 during mid-day trading on Thursday, hitting $5.54. The company had a trading volume of 100,728 shares, compared to its average volume of 127,072. BNY Mellon Strategic Municipal Bond Fund, Inc. has a fifty-two week low of $5.07 and a fifty-two week high of $6.30. The business’s fifty day moving average is $5.45 and its two-hundred day moving average is $5.91.
BNY Mellon Strategic Municipal Bond Fund Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 14th will be paid 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 yield of 6.5%.
Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund
Several large investors have recently made changes to their positions in DSM. Bulldog Investors LLP increased its holdings in BNY Mellon Strategic Municipal Bond Fund by 2.0% during the first 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 during the last quarter. Rivernorth Capital Management LLC grew its position in shares of BNY Mellon Strategic Municipal Bond Fund by 15.7% in the 2nd 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 during the period. Hennion & Walsh Asset Management Inc. increased its position in BNY Mellon Strategic Municipal Bond Fund by 87.7% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 1,476,212 shares of the investment management company’s stock worth $9,079,000 after buying an additional 689,844 shares during the last quarter. Robinson Capital Management LLC increased its position 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 buying an additional 41,717 shares during the last quarter. Finally, Van ECK Associates Corp increased 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 worth $2,605,000 after buying an additional 6,849 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 fund managed within BNY Mellon’s investment-management business. The fund is designed to provide investors with current income that is generally 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 related entities across the United States. Its portfolio may include bonds financing public infrastructure and services such as schools, transportation systems, utilities and health-care facilities.
BNY Mellon Strategic Municipal Bond Fund is intended for investors seeking tax-advantaged income and exposure to the U.S.
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