Key Points
- Saba Capital Management bought 27,875 shares of BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) at an average price of $5.90 on Nov. 28, increasing its holdings to 5,180,466 shares (a 0.54% stake rise) in a transaction disclosed to the SEC.
- The fund declared a monthly dividend of $0.023 per share, with record and ex-dividend dates on Dec. 11 and a payment date of Dec. 31, reflecting an implied annualized yield of about 4.7%.
- DSM traded around $5.90 (opened at $5.90), with a 1-year range of $5.28–$6.18 and technicals showing a 50-day SMA of $5.96 and a 200-day SMA of $5.75.
BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 27,875 shares of the stock in a transaction dated Friday, November 28th. The shares were bought at an average price of $5.90 per share, for a total transaction of $164,462.50. Following the completion of the acquisition, the insider owned 5,180,466 shares in the company, valued at $30,564,749.40. This represents a 0.54% increase in their ownership of the stock. The purchase 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.
BNY Mellon Strategic Municipal Bond Fund Stock Up 0.3%
NYSE DSM opened at $5.90 on Wednesday. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 1-year low of $5.28 and a 1-year high of $6.18. The firm's fifty day simple moving average is $5.96 and its 200-day simple moving average is $5.75.
BNY Mellon Strategic Municipal Bond Fund Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Thursday, December 11th will be paid a dividend of $0.023 per share. The ex-dividend date of this dividend is Thursday, December 11th. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%.
Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund
Several institutional investors have recently made changes to their positions in DSM. Root Financial Partners LLC bought a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 3rd quarter valued at approximately $48,000. Cerity Partners LLC acquired a new stake in BNY Mellon Strategic Municipal Bond Fund in the second quarter valued at approximately $56,000. Nomura Holdings Inc. bought a new stake in BNY Mellon Strategic Municipal Bond Fund in the third quarter worth approximately $74,000. Landscape Capital Management L.L.C. grew its position in BNY Mellon Strategic Municipal Bond Fund by 46.4% in the first quarter. Landscape Capital Management L.L.C. now owns 21,262 shares of the investment management company's stock worth $123,000 after acquiring an additional 6,735 shares in the last quarter. Finally, Lee Financial Co acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter worth $172,000.
BNY Mellon Strategic Municipal Bond Fund Company Profile
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BNY Mellon Strategic Municipal Bond Fund, Inc is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc The fund invests in the fixed income markets of the United States. It primarily invests in investment grade municipal bonds which are exempt from federal income tax.
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