BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Major Shareholder Saba Capital Management, L.P. Purchases 20,575 Shares of Company Stock

by · The Markets Daily

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM – Get Free Report) major shareholder Saba Capital Management, L.P. bought 20,575 shares of the company’s stock in a transaction that occurred on Wednesday, October 21st. The stock was acquired at an average price of $5.32 per share, for a total transaction of $109,459.00. Following the completion of the acquisition, the insider directly owned 5,436,073 shares in the company, valued at approximately $28,919,908.36. This represents a 0.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

  • On Tuesday, October 20th, Saba Capital Management, L.P. bought 14,573 shares of BNY Mellon Strategic Municipal Bond Fund stock. The shares were acquired at an average cost 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 shares were acquired 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 shares were acquired 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. purchased 13,762 shares of BNY Mellon Strategic Municipal Bond Fund stock. The stock was acquired at an average price of $5.24 per share, for a total transaction of $72,112.88.

BNY Mellon Strategic Municipal Bond Fund Stock Up 0.5%

NYSE DSM opened at $5.32 on Friday. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 1 year low of $5.07 and a 1 year high of $6.30. The business’s fifty day moving average is $5.48 and its two-hundred day moving average is $5.85.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, October 30th. Investors 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 dividend yield of 6.8%. The ex-dividend date is Wednesday, October 14th.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

Hedge funds have recently modified their holdings of the stock. Bulldog Investors LLP boosted its position 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 valued at $20,277,000 after purchasing an additional 65,851 shares during the period. Rivernorth Capital Management LLC raised its holdings in BNY Mellon Strategic Municipal Bond Fund by 15.7% during the 2nd quarter. Rivernorth Capital Management LLC now owns 1,920,587 shares of the investment management company’s stock worth $11,812,000 after buying an additional 260,230 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in BNY Mellon Strategic Municipal Bond Fund by 87.7% during 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 buying an additional 689,844 shares during the period. 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 buying an additional 41,717 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 1.6% in the second 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 period.

About BNY Mellon Strategic Municipal Bond Fund

(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.

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