Ranch Capital Advisors Inc. Reduces Holdings in BNY Mellon Strategic Municipal Bond Fund, Inc. $DSM

Ranch Capital Advisors Inc. trimmed its stake in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) by 8.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,031 shares of the investment management company’s stock after selling 2,695 shares during the period. Ranch Capital Advisors Inc. owned 0.06% of BNY Mellon Strategic Municipal Bond Fund worth $163,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC purchased a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 1st quarter worth about $111,000. LPL Financial LLC boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 7.3% during the first quarter. LPL Financial LLC now owns 712,095 shares of the investment management company’s stock worth $4,109,000 after acquiring an additional 48,150 shares in the last quarter. Integrated Capital Management Inc. boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 20.4% during the second quarter. Integrated Capital Management Inc. now owns 40,069 shares of the investment management company’s stock worth $224,000 after acquiring an additional 6,776 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 40.8% during the first quarter. Advisors Asset Management Inc. now owns 353,086 shares of the investment management company’s stock worth $2,037,000 after acquiring an additional 102,237 shares in the last quarter. Finally, Almitas Capital LLC boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 36.1% during the first quarter. Almitas Capital LLC now owns 851,087 shares of the investment management company’s stock worth $4,911,000 after acquiring an additional 225,626 shares in the last quarter.

BNY Mellon Strategic Municipal Bond Fund Price Performance

NYSE:DSM opened at $6.04 on Friday. BNY Mellon Strategic Municipal Bond Fund, Inc. has a one year low of $5.28 and a one year high of $6.18. The company’s 50-day simple moving average is $5.86 and its 200 day simple moving average is $5.68.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, October 14th will be paid a dividend of $0.023 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a c) annualized dividend and a yield of 4.6%.

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.