Key Points
- Director Bradley Skapyak bought 1,894 shares of BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) on June 8 at an average price of $6.09 per share, totaling about $11,534.
- The fund’s shares were trading around $6.12, near their 52-week range of $5.45 to $6.30, with both the 50-day and 200-day moving averages close to $6.06-$6.07.
- BNY Mellon Strategic Municipal Bond Fund also announced a monthly dividend of $0.03 per share, payable June 30, representing an annualized yield of about 5.9%.
BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Get Free Report) Director Bradley Skapyak bought 1,894 shares of the stock in a transaction on Monday, June 8th. The shares were acquired at an average cost of $6.09 per share, for a total transaction of $11,534.46. Following the completion of the transaction, the director directly owned 1,894 shares of the company's stock, valued at approximately $11,534.46. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
BNY Mellon Strategic Municipal Bond Fund Price Performance
BNY Mellon Strategic Municipal Bond Fund stock opened at $6.12 on Wednesday. BNY Mellon Strategic Municipal Bond Fund, Inc. has a one year low of $5.45 and a one year high of $6.30. The company's fifty day moving average price is $6.06 and its two-hundred day moving average price is $6.07.
BNY Mellon Strategic Municipal Bond Fund Increases Dividend
The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, June 11th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, June 11th. This is a positive change from BNY Mellon Strategic Municipal Bond Fund's previous monthly dividend of $0.03. This represents a c) annualized dividend and a yield of 5.9%.
Institutional Trading of BNY Mellon Strategic Municipal Bond Fund
A number of institutional investors and hedge funds have recently modified their holdings of the company. Thomas J. Herzfeld Advisors Inc. lifted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 0.7% in the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 341,091 shares of the investment management company's stock worth $2,105,000 after buying an additional 2,512 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 22.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 15,331 shares of the investment management company's stock worth $95,000 after buying an additional 2,765 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 1.2% in the fourth quarter. Wells Fargo & Company MN now owns 404,626 shares of the investment management company's stock worth $2,497,000 after buying an additional 4,692 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 15.9% in the fourth quarter. HighTower Advisors LLC now owns 42,452 shares of the investment management company's stock worth $262,000 after buying an additional 5,833 shares during the last quarter. Finally, Cerity Partners LLC bought a new stake in BNY Mellon Strategic Municipal Bond Fund during the second quarter valued at about $56,000.
BNY Mellon Strategic Municipal Bond Fund Company Profile
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Get Free Report)
BNY Mellon Strategic Municipal Bond Fund Inc (NYSE: DSM) is a closed-end, diversified management investment company sponsored by The Bank of New York Mellon Corporation. Launched in 2007, DSM is listed on the New York Stock Exchange and offers investors access to a professionally managed portfolio of municipal debt securities. As a publicly traded fund, DSM combines the liquidity of the secondary market with the long-term investment horizon of a mutual fund structure.
The fund’s primary objective is to provide current income exempt from federal income tax.
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