BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Major Shareholder Purchases $109,459.00 in Stock

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) major shareholder Saba Capital Management, L.P. purchased 20,575 shares of the business’s stock in a transaction dated Wednesday, October 21st. The stock was purchased at an average price of $5.32 per share, for a total transaction of $109,459.00. Following the completion of the acquisition, the insider owned 5,436,073 shares of the company’s stock, valued at approximately $28,919,908.36. This represents a 0.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Tuesday, October 20th, Saba Capital Management, L.P. acquired 14,573 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were purchased at an average cost of $5.32 per share, with a total value of $77,528.36.
• On Monday, October 19th, Saba Capital Management, L.P. acquired 69,080 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were purchased at an average price of $5.29 per share, with a total value of $365,433.20.
• On Friday, October 16th, Saba Capital Management, L.P. bought 138,642 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was purchased at an average cost of $5.27 per share, for a total transaction of $730,643.34.
• On Thursday, October 15th, Saba Capital Management, L.P. bought 13,762 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was purchased at an average cost of $5.24 per share, for a total transaction of $72,112.88.

BNY Mellon Strategic Municipal Bond Fund Trading Up 0.5%

NYSE DSM traded up $0.02 during trading on Thursday, hitting $5.32. The stock had a trading volume of 152,392 shares, compared to its average volume of 125,575. The company’s 50-day moving average price is $5.49 and its two-hundred day moving average price is $5.86. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 12 month low of $5.07 and a 12 month high of $6.30.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th will be paid a dividend of $0.03 per share. This represents a $0.36 annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend is Wednesday, October 14th.

Institutional Trading of BNY Mellon Strategic Municipal Bond Fund

A number of institutional investors have recently made changes to their positions in DSM. Rivernorth Capital Management LLC boosted its holdings in BNY Mellon Strategic Municipal Bond Fund by 98.7% during the first quarter. Rivernorth Capital Management LLC now owns 1,660,357 shares of the investment management company’s stock worth $9,979,000 after purchasing an additional 824,765 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in BNY Mellon Strategic Municipal Bond Fund by 87.7% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,476,212 shares of the investment management company’s stock valued at $9,079,000 after buying an additional 689,844 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in BNY Mellon Strategic Municipal Bond Fund in the 1st quarter valued at $423,000. Bulldog Investors LLP lifted its position in BNY Mellon Strategic Municipal Bond Fund by 2.0% during the 1st quarter. Bulldog Investors LLP now owns 3,373,942 shares of the investment management company’s stock worth $20,277,000 after buying an additional 65,851 shares in the last quarter. Finally, Robinson Capital Management LLC lifted its position in BNY Mellon Strategic Municipal Bond Fund by 9.8% during the 2nd quarter. Robinson Capital Management LLC now owns 467,193 shares of the investment management company’s stock worth $2,878,000 after buying an additional 41,717 shares in the last quarter.

BNY Mellon Strategic Municipal Bond Fund Company Profile

BNY Mellon Strategic Municipal Bond Fund (NYSE: DSM) is a closed-end investment company that seeks to provide current income 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 other governmental entities in the United States.

The fund’s portfolio may include a range of tax-exempt securities with different maturities, credit qualities and structures. Its investments are designed to generate income for shareholders while providing exposure to the U.S.