BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Stock: Insider Saba Capital Management, L.P. Buys 13,695 Shares

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) major shareholder Saba Capital Management, L.P. acquired 13,695 shares of the stock in a transaction dated Tuesday, October 27th. The shares were bought at an average price of $5.63 per share, with a total value of $77,102.85. Following the completion of the purchase, the insider directly owned 5,470,384 shares of the company’s stock, valued at approximately $30,798,261.92. This trade represents a 0.25% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Major 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 Wednesday, October 28th, Saba Capital Management, L.P. acquired 1,992 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were bought at an average cost of $5.43 per share, for a total transaction of $10,816.56.
• On Monday, October 26th, Saba Capital Management, L.P. acquired 20,616 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were bought at an average cost of $5.40 per share, for a total transaction of $111,326.40.
• On Wednesday, October 21st, Saba Capital Management, L.P. bought 20,575 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was purchased at an average cost of $5.32 per share, for a total transaction of $109,459.00.
• On Tuesday, October 20th, Saba Capital Management, L.P. bought 14,573 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was purchased at an average price of $5.32 per share, with a total value of $77,528.36.
• On Monday, October 19th, Saba Capital Management, L.P. bought 69,080 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was 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. purchased 138,642 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were purchased at an average cost of $5.27 per share, with a total value of $730,643.34.
• On Thursday, October 15th, Saba Capital Management, L.P. purchased 13,762 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were purchased at an average cost of $5.24 per share, with a total value of $72,112.88.

BNY Mellon Strategic Municipal Bond Fund Trading Up 2.0%

BNY Mellon Strategic Municipal Bond Fund stock opened at $5.54 on Friday. The business’s 50-day simple moving average is $5.44 and its two-hundred day simple moving average is $5.91. BNY Mellon Strategic Municipal Bond Fund, Inc. has a fifty-two week low of $5.07 and a fifty-two week high of $6.30.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, October 14th will be paid a $0.03 dividend. This represents a $0.36 annualized dividend and a dividend yield of 6.5%. The ex-dividend date is Wednesday, October 14th.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

Large investors have recently bought and sold shares of the company. Integrated Capital Management Inc. increased its holdings in BNY Mellon Strategic Municipal Bond Fund by 10.6% in the 3rd quarter. Integrated Capital Management Inc. now owns 30,740 shares of the investment management company’s stock worth $160,000 after buying an additional 2,944 shares during the period. Noble Wealth Management PBC raised its position in BNY Mellon Strategic Municipal Bond Fund by 7.2% during the 2nd quarter. Noble Wealth Management PBC now owns 65,733 shares of the investment management company’s stock worth $404,000 after buying an additional 4,400 shares during the last quarter. Van ECK Associates Corp raised its position in 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 buying an additional 6,849 shares during the last quarter. Root Financial Partners LLC purchased a new position in BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter worth approximately $51,000. Finally, Readystate Asset Management LP acquired a new stake in BNY Mellon Strategic Municipal Bond Fund during the 2nd quarter valued at approximately $88,000.

About BNY Mellon Strategic Municipal Bond Fund

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.