Rivernorth Capital Management LLC Has $9.98 Million Stake in BNY Mellon Strategic Municipal Bond Fund, Inc. $DSM

Rivernorth Capital Management LLC boosted its holdings in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) by 98.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,660,357 shares of the investment management company’s stock after purchasing an additional 824,765 shares during the quarter. Rivernorth Capital Management LLC owned about 3.36% of BNY Mellon Strategic Municipal Bond Fund worth $9,979,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cerity Partners LLC acquired a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 2nd quarter worth about $56,000. Nomura Holdings Inc. purchased a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the third quarter worth approximately $74,000. BOKF NA bought a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the fourth quarter valued at approximately $79,000. Janney Montgomery Scott LLC lifted its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 22.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 15,331 shares of the investment management company’s stock valued at $95,000 after purchasing an additional 2,765 shares in the last quarter. Finally, Novak & Powell Financial Services Inc. purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the fourth quarter valued at approximately $111,000.

BNY Mellon Strategic Municipal Bond Fund Price Performance

NYSE DSM opened at $5.90 on Wednesday. The business has a fifty day simple moving average of $6.08 and a 200 day simple moving average of $6.09. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 12 month low of $5.46 and a 12 month high of $6.30.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 14th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, July 14th. This represents a c) annualized dividend and a dividend yield of 6.1%.

About BNY Mellon Strategic Municipal Bond Fund

BNY Mellon Strategic Municipal Bond Fund Inc (NYSE: DSM) is a closed-end, diversified management investment company sponsored by The Bank of New York Mellon Corporation. Launched in 2007, DSM is listed on the New York Stock Exchange and offers investors access to a professionally managed portfolio of municipal debt securities. As a publicly traded fund, DSM combines the liquidity of the secondary market with the long-term investment horizon of a mutual fund structure.

The fund’s primary objective is to provide current income exempt from federal income tax.