DWS Strategic Municipal Income Trust Announces Monthly Dividend of $0.03 (NYSE:KSM)

DWS Strategic Municipal Income Trust (NYSE:KSM) announced a monthly dividend on Wednesday, May 8th, Wall Street Journal reports. Stockholders of record on Friday, May 17th will be given a dividend of 0.026 per share by the investment management company on Friday, May 31st. This represents a $0.31 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Thursday, May 16th.

DWS Strategic Municipal Income Trust has decreased its dividend by an average of 13.9% per year over the last three years.

DWS Strategic Municipal Income Trust Stock Performance

Shares of KSM remained flat at $9.60 during mid-day trading on Wednesday. 60,328 shares of the stock traded hands, compared to its average volume of 32,008. DWS Strategic Municipal Income Trust has a 12 month low of $7.25 and a 12 month high of $9.74. The stock has a 50 day moving average of $9.24 and a 200-day moving average of $8.70.

Insider Activity

In other DWS Strategic Municipal Income Trust news, major shareholder Saba Capital Management, L.P. bought 6,711 shares of DWS Strategic Municipal Income Trust stock in a transaction on Monday, March 11th. The shares were purchased at an average cost of $8.91 per share, with a total value of $59,795.01. Following the acquisition, the insider now directly owns 1,598,045 shares of the company’s stock, valued at approximately $14,238,580.95. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders bought 10,956 shares of company stock valued at $97,223 over the last quarter. 1.00% of the stock is owned by company insiders.

DWS Strategic Municipal Income Trust Company Profile

Deutsche Strategic Municipal Income Trust is a closed-ended fixed income mutual fund launched and managed by Deutsche Investment Management Americas Inc The fund invests in the fixed income markets of the United States. It primarily invests investment grade or unrated municipal securities of comparable quality, as well as in high-yield municipal securities that are below investment grade.