BNY Mellon Strategic Municipal Bond Fund, Inc. $DSM Shares Purchased by Palogic Value Management L.P.

Palogic Value Management L.P. boosted its position in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) by 23.4% in the first quarter, Holdings Channel.com reports. The firm owned 48,475 shares of the investment management company’s stock after acquiring an additional 9,201 shares during the quarter. Palogic Value Management L.P.’s holdings in BNY Mellon Strategic Municipal Bond Fund were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in DSM. Elequin Capital LP acquired a new stake in BNY Mellon Strategic Municipal Bond Fund in the fourth quarter valued at about $36,000. Smallwood Wealth Investment Management LLC acquired a new stake in BNY Mellon Strategic Municipal Bond Fund in the first quarter valued at about $37,000. CJM Wealth Advisers Ltd. acquired a new stake in BNY Mellon Strategic Municipal Bond Fund in the first quarter valued at about $86,000. Janney Montgomery Scott LLC acquired a new stake in BNY Mellon Strategic Municipal Bond Fund in the first quarter valued at about $111,000. Finally, Landscape Capital Management L.L.C. lifted its position in shares of BNY Mellon Strategic Municipal Bond Fund by 46.4% during the 1st quarter. Landscape Capital Management L.L.C. now owns 21,262 shares of the investment management company’s stock valued at $123,000 after acquiring an additional 6,735 shares during the period.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. purchased 6,350 shares of BNY Mellon Strategic Municipal Bond Fund stock in a transaction dated Thursday, June 26th. The stock was bought at an average cost of $5.55 per share, for a total transaction of $35,242.50. Following the transaction, the insider owned 5,152,591 shares in the company, valued at approximately $28,596,880.05. The trade was a 0.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

BNY Mellon Strategic Municipal Bond Fund Trading Up 1.1%

DSM stock opened at $5.82 on Tuesday. The firm has a 50 day moving average of $5.60 and a 200-day moving average of $5.66. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 12-month low of $5.28 and a 12-month high of $6.38.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be given a dividend of $0.023 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, September 12th.

BNY Mellon Strategic Municipal Bond Fund Profile

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.