BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Declares Monthly Dividend of $0.03

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) declared a monthly dividend on Thursday, October 29th. Stockholders of record on Friday, November 13th will be given a dividend of $0.03 per share by the investment management company on Tuesday, December 1st. This represents a $0.36 annualized dividend and a dividend yield of 6.5%. The ex-dividend date is Friday, November 13th.

BNY Mellon Strategic Municipal Bond Fund Stock Up 2.0%

NYSE DSM opened at $5.54 on Friday. The firm’s fifty day simple moving average is $5.44 and its two-hundred day simple moving average is $5.91. BNY Mellon Strategic Municipal Bond Fund has a 12-month low of $5.07 and a 12-month high of $6.30.

Insider Buying and Selling

In other BNY Mellon Strategic Municipal Bond Fund news, major shareholder Saba Capital Management, L.P. bought 13,695 shares of the company’s stock in a transaction dated Tuesday, October 27th. The shares were purchased at an average cost of $5.63 per share, for a total transaction of $77,102.85. Following the transaction, the insider directly owned 5,470,384 shares of the company’s stock, valued at approximately $30,798,261.92. The trade was a 0.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders purchased 293,135 shares of company stock valued at $1,555,481.

Institutional Trading of BNY Mellon Strategic Municipal Bond Fund

Several institutional investors have recently modified their holdings of the stock. Root Financial Partners LLC acquired a new stake in BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter worth $51,000. Readystate Asset Management LP acquired a new position in BNY Mellon Strategic Municipal Bond Fund in the 2nd quarter valued at about $88,000. Integrated Capital Management Inc. grew its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 10.6% in the 3rd quarter. Integrated Capital Management Inc. now owns 30,740 shares of the investment management company’s stock valued at $160,000 after buying an additional 2,944 shares during the period. Noble Wealth Management PBC grew its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 7.2% in the 2nd quarter. Noble Wealth Management PBC now owns 65,733 shares of the investment management company’s stock valued at $404,000 after buying an additional 4,400 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 1st quarter valued at approximately $423,000.

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.