BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 69,080 shares of the company's stock in a transaction dated Monday, October 19th. The stock was purchased at an average cost of $5.29 per share, for a total transaction of $365,433.20. Following the purchase, the insider directly owned 5,400,925 shares in the company, valued at approximately $28,570,893.25. This represents a 1.30% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Saba Capital Management, L.P. also recently made the following trade(s):
- On Friday, October 16th, Saba Capital Management, L.P. acquired 138,642 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was purchased at an average price of $5.27 per share, with a total value 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 purchased at an average cost of $5.24 per share, with a total value of $72,112.88.
BNY Mellon Strategic Municipal Bond Fund Stock Up 0.7%
NYSE:DSM opened at $5.32 on Wednesday. The business's 50-day moving average price is $5.51 and its 200 day moving average price is $5.86. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 52-week low of $5.07 and a 52-week high of $6.30.
BNY Mellon Strategic Municipal Bond Fund Dividend Announcement
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 issued a $0.03 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date of this dividend is Wednesday, October 14th.
Hedge Funds Weigh In On BNY Mellon Strategic Municipal Bond Fund
Large investors have recently made changes to their positions in the business. Rivernorth Capital Management LLC grew its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 98.7% in the 1st quarter. Rivernorth Capital Management LLC now owns 1,660,357 shares of the investment management company's stock worth $9,979,000 after purchasing an additional 824,765 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of 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. Bank of New York Mellon Corp bought a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 1st quarter worth approximately $423,000. Bulldog Investors LLP raised its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 2.0% in the 1st quarter. Bulldog Investors LLP now owns 3,373,942 shares of the investment management company's stock worth $20,277,000 after purchasing an additional 65,851 shares in the last quarter. Finally, Robinson Capital Management LLC lifted its stake in BNY Mellon Strategic Municipal Bond Fund by 9.8% during the second quarter. Robinson Capital Management LLC now owns 467,193 shares of the investment management company's stock valued at $2,878,000 after purchasing an additional 41,717 shares during the last quarter.
BNY Mellon Strategic Municipal Bond Fund Company Profile
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
