BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM – Get Free Report) announced a monthly dividend on Thursday, October 29th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.03 per share by the investment management company on Tuesday, December 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Friday, November 13th.
BNY Mellon Strategic Municipal Bond Fund Price Performance
Shares of NYSE DSM opened at $5.54 on Friday. BNY Mellon Strategic Municipal Bond Fund has a 12 month low of $5.07 and a 12 month high of $6.30. The business has a 50-day moving average of $5.44 and a 200-day moving average of $5.91.
Insider Buying and Selling
In other news, major shareholder Saba Capital Management, L.P. acquired 13,695 shares of BNY Mellon Strategic Municipal Bond Fund stock in a transaction on Tuesday, October 27th. The stock was acquired at an average cost of $5.63 per share, for a total transaction of $77,102.85. Following the purchase, the insider owned 5,470,384 shares in the company, valued at $30,798,261.92. This trade represents a 0.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought a total of 293,135 shares of company stock worth $1,555,481 over the last 90 days.
Institutional Trading of BNY Mellon Strategic Municipal Bond Fund
Several institutional investors and hedge funds have recently added to or reduced their stakes in DSM. Root Financial Partners LLC purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter worth about $51,000. Integrated Capital Management Inc. grew its holdings in BNY Mellon Strategic Municipal Bond Fund by 10.6% in the third quarter. Integrated Capital Management Inc. now owns 30,740 shares of the investment management company’s stock worth $160,000 after purchasing an additional 2,944 shares during the last quarter. Noble Wealth Management PBC grew its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 10.6% during the third quarter. Noble Wealth Management PBC now owns 72,733 shares of the investment management company’s stock worth $379,000 after acquiring an additional 7,000 shares during the last quarter. Robinson Capital Management LLC boosted its position in BNY Mellon Strategic Municipal Bond Fund by 9.8% in the second quarter. Robinson Capital Management LLC now owns 467,193 shares of the investment management company’s stock valued at $2,878,000 after buying an additional 41,717 shares during the last quarter. Finally, Readystate Asset Management LP purchased a new position in BNY Mellon Strategic Municipal Bond Fund during the second quarter valued at approximately $88,000.
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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