BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Major Shareholder Purchases $28,863.16 in Stock

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) major shareholder Saba Capital Management, L.P. bought 5,267 shares of the business’s stock in a transaction that occurred on Tuesday, April 15th. The shares were acquired at an average price of $5.48 per share, with a total value of $28,863.16. Following the transaction, the insider now directly owns 5,146,241 shares of the company’s stock, valued at $28,201,400.68. This represents a 0.10 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

BNY Mellon Strategic Municipal Bond Fund Trading Up 0.6 %

DSM stock traded up $0.04 during midday trading on Thursday, hitting $5.52. The company’s stock had a trading volume of 151,772 shares, compared to its average volume of 135,475. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 12 month low of $5.28 and a 12 month high of $6.38. The company has a 50 day moving average of $5.83 and a two-hundred day moving average of $5.93.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 14th will be given a dividend of $0.018 per share. The ex-dividend date of this dividend is Monday, April 14th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.92%.

Institutional Trading of BNY Mellon Strategic Municipal Bond Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the first quarter valued at about $111,000. CJM Wealth Advisers Ltd. bought a new position in BNY Mellon Strategic Municipal Bond Fund during the first quarter valued at approximately $86,000. Integrated Capital Management Inc. grew its holdings in BNY Mellon Strategic Municipal Bond Fund by 7.5% during the 1st quarter. Integrated Capital Management Inc. now owns 33,293 shares of the investment management company’s stock valued at $192,000 after buying an additional 2,311 shares in the last quarter. Elequin Capital LP bought a new stake in BNY Mellon Strategic Municipal Bond Fund in the 4th quarter worth approximately $36,000. Finally, Saba Capital Management L.P. raised its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 2.9% during the 4th quarter. Saba Capital Management L.P. now owns 4,127,582 shares of the investment management company’s stock worth $23,981,000 after acquiring an additional 116,315 shares in the last quarter.

About BNY Mellon Strategic Municipal Bond Fund

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.