Key Points
- Saba Capital Management bought 11,757 DSM shares at an average of $5.60, spending about $65,839. After the purchase, it owned 5,484,233 shares, a 0.21% increase in its holdings.
- The major shareholder also reported multiple recent purchases, including 138,642 shares on October 16 and 69,080 shares on October 19.
- DSM announced a monthly dividend of $0.03 per share, equivalent to a 6.5% annualized yield. Shares opened at $5.54, within a 52-week range of $5.07 to $6.30.
BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM - Get Free Report) major shareholder Saba Capital Management, L.P. bought 11,757 shares of the company's stock in a transaction dated Tuesday, November 10th. The stock was bought at an average price of $5.60 per share, for a total transaction of $65,839.20. Following the acquisition, the insider directly owned 5,484,233 shares of the company's stock, valued at approximately $30,711,704.80. This represents a 0.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more 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 Wednesday, November 11th, Saba Capital Management, L.P. bought 2,182 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were bought at an average cost of $5.59 per share, for a total transaction of $12,197.38.
- On Thursday, November 5th, Saba Capital Management, L.P. purchased 100 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were bought at an average price of $5.55 per share, with a total value of $555.00.
- On Wednesday, October 28th, Saba Capital Management, L.P. purchased 1,992 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was bought at an average cost of $5.43 per share, with a total value of $10,816.56.
- On Tuesday, October 27th, Saba Capital Management, L.P. purchased 13,695 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was bought at an average cost of $5.63 per share, with a total value of $77,102.85.
- 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 price of $5.40 per share, for a total transaction of $111,326.40.
- On Wednesday, October 21st, Saba Capital Management, L.P. acquired 20,575 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were 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. acquired 14,573 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were purchased at an average cost of $5.32 per share, for a total transaction 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. bought 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 stock was purchased at an average price of $5.24 per share, with a total value of $72,112.88.
BNY Mellon Strategic Municipal Bond Fund Trading Down 1.2%
Shares of DSM stock opened at $5.54 on Friday. The firm has a 50-day moving average of $5.40 and a 200-day moving average of $5.88. BNY Mellon Strategic Municipal Bond Fund, Inc. has a one year low of $5.07 and a one year 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 Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a $0.03 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend is Friday, November 13th.
Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the 3rd quarter worth approximately $51,000. Readystate Asset Management LP bought a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the second quarter valued at approximately $88,000. Traub Capital Management LLC bought a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the third quarter valued at approximately $135,000. Integrated Capital Management Inc. grew its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 10.6% in the third quarter. Integrated Capital Management Inc. now owns 30,740 shares of the investment management company's stock valued at $160,000 after acquiring an additional 2,944 shares in the last quarter. Finally, Noble Wealth Management PBC increased its position in shares of BNY Mellon Strategic Municipal Bond Fund by 10.6% during the third quarter. Noble Wealth Management PBC now owns 72,733 shares of the investment management company's stock valued at $379,000 after acquiring an additional 7,000 shares during the last quarter.
About BNY Mellon Strategic Municipal Bond Fund
(
Get Free Report)
BNY Mellon Strategic Municipal Bond Fund is a closed-end investment fund that seeks to provide current income exempt from federal income tax while seeking to preserve capital. It invests primarily in municipal bonds issued by U.S. state and local governments and related public entities. The fund gives investors exposure to debt used to finance public services and infrastructure. It is managed by BNY Mellon Investment Adviser, an investment management affiliate of BNY Mellon.
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