BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Major Shareholder Saba Capital Management, L.P. Acquires 20,616 Shares of Company Stock

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) major shareholder Saba Capital Management, L.P. purchased 20,616 shares of the firm’s stock in a transaction on Monday, October 26th. The shares were acquired at an average price of $5.40 per share, with a total value of $111,326.40. Following the completion of the acquisition, the insider owned 5,456,689 shares in the company, valued at approximately $29,466,120.60. This trade represents a 0.38% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, October 21st, Saba Capital Management, L.P. acquired 20,575 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was acquired at an average cost of $5.32 per share, with a total value of $109,459.00.
• On Tuesday, October 20th, Saba Capital Management, L.P. acquired 14,573 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was acquired at an average cost of $5.32 per share, for a total transaction 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 stock was acquired at an average cost of $5.29 per share, for a total transaction 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 shares were acquired at an average price 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 shares were acquired at an average price of $5.24 per share, for a total transaction of $72,112.88.

BNY Mellon Strategic Municipal Bond Fund Stock Up 1.0%

NYSE DSM opened at $5.49 on Wednesday. The business has a 50 day simple moving average of $5.46 and a 200 day simple moving average of $5.91. BNY Mellon Strategic Municipal Bond Fund, Inc. has a one year low of $5.07 and a one year high of $6.30.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, October 14th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $0.36 annualized dividend and a yield of 6.6%.

Institutional Trading of BNY Mellon Strategic Municipal Bond Fund

Large investors have recently modified their holdings of the stock. Root Financial Partners LLC acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter valued at $51,000. Readystate Asset Management LP bought a new position in BNY Mellon Strategic Municipal Bond Fund during the second quarter worth $88,000. Integrated Capital Management Inc. boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 10.6% during the third quarter. Integrated Capital Management Inc. now owns 30,740 shares of the investment management company’s stock worth $160,000 after acquiring an additional 2,944 shares in the last quarter. Noble Wealth Management PBC grew its holdings in BNY Mellon Strategic Municipal Bond Fund by 7.2% in the second quarter. Noble Wealth Management PBC now owns 65,733 shares of the investment management company’s stock worth $404,000 after purchasing an additional 4,400 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in BNY Mellon Strategic Municipal Bond Fund in the first quarter worth $423,000.

BNY Mellon Strategic Municipal Bond Fund Company Profile

BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) is a closed-end investment fund managed within BNY Mellon’s investment-management business. The fund is designed to provide investors with current income that is generally 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 related entities across the United States. Its portfolio may include bonds financing public infrastructure and services such as schools, transportation systems, utilities and health-care facilities.

BNY Mellon Strategic Municipal Bond Fund is intended for investors seeking tax-advantaged income and exposure to the U.S.