BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Get Free Report) major shareholder Saba Capital Management, L.P. bought 5,267 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were bought at an average cost of $5.48 per share, with a total value of $28,863.16. Following the completion of the purchase, the insider now directly owns 5,146,241 shares in the company, valued at $28,201,400.68. This represents a 0.10 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
BNY Mellon Strategic Municipal Bond Fund Trading Up 0.6 %
Shares of DSM opened at $5.52 on Friday. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 1 year low of $5.28 and a 1 year high of $6.38. The stock has a 50-day simple moving average of $5.82 and a 200-day simple moving average of $5.93.
BNY Mellon Strategic Municipal Bond Fund Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 14th will be paid a $0.018 dividend. The ex-dividend date is Monday, April 14th. This represents a $0.22 dividend on an annualized basis and a yield of 3.92%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bulldog Investors LLP lifted its position in shares of BNY Mellon Strategic Municipal Bond Fund by 156.2% during the 4th quarter. Bulldog Investors LLP now owns 2,101,361 shares of the investment management company's stock worth $12,223,000 after purchasing an additional 1,281,127 shares during the last quarter. Almitas Capital LLC acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the 4th quarter worth about $3,634,000. Whitebox Advisors LLC increased its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 222.7% in the 4th quarter. Whitebox Advisors LLC now owns 619,946 shares of the investment management company's stock valued at $3,602,000 after acquiring an additional 427,819 shares during the last quarter. Pathstone Holdings LLC raised its position in shares of BNY Mellon Strategic Municipal Bond Fund by 15.5% during the 4th quarter. Pathstone Holdings LLC now owns 2,474,029 shares of the investment management company's stock worth $14,397,000 after acquiring an additional 332,266 shares in the last quarter. Finally, Rivernorth Capital Management LLC boosted its holdings in BNY Mellon Strategic Municipal Bond Fund by 13.7% in the third quarter. Rivernorth Capital Management LLC now owns 1,666,877 shares of the investment management company's stock valued at $10,385,000 after purchasing an additional 201,105 shares in the last quarter.
BNY Mellon Strategic Municipal Bond Fund Company Profile
(
Get Free Report)
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.
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