BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Major Shareholder Purchases $72,112.88 in Stock

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) major shareholder Saba Capital Management, L.P. purchased 13,762 shares of the firm’s stock in a transaction on Thursday, October 15th. The stock was acquired at an average price of $5.24 per share, with a total value of $72,112.88. Following the completion of the purchase, the insider owned 5,193,203 shares of the company’s stock, valued at $27,212,383.72. The trade was a 0.27% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

Shares of DSM stock remained flat at $5.28 during trading hours on Monday. The stock had a trading volume of 166,152 shares, compared to its average volume of 125,682. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 1-year low of $5.07 and a 1-year high of $6.30. The firm has a 50-day moving average price of $5.53 and a two-hundred day moving average price of $5.87.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

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

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

Large investors have recently bought and sold shares of the company. Bulldog Investors LLP boosted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 2.0% in the first 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 during the last quarter. Rivernorth Capital Management LLC grew its holdings in BNY Mellon Strategic Municipal Bond Fund by 15.7% during the second quarter. Rivernorth Capital Management LLC now owns 1,920,587 shares of the investment management company’s stock worth $11,812,000 after acquiring an additional 260,230 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position 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 worth $9,079,000 after purchasing an additional 689,844 shares in the last quarter. Robinson Capital Management LLC grew its stake in shares of 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 purchasing an additional 41,717 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 1.6% during the 2nd quarter. Van ECK Associates Corp now owns 423,652 shares of the investment management company’s stock worth $2,605,000 after purchasing an additional 6,849 shares during the period.

About BNY Mellon Strategic Municipal Bond Fund

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.