Benjamin Edwards Inc. Grows Stock Holdings in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)

Benjamin Edwards Inc. boosted its position in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) by 94.4% in the 4th quarter, Holdings Channel reports. The fund owned 46,361 shares of the investment management company’s stock after purchasing an additional 22,518 shares during the period. Benjamin Edwards Inc.’s holdings in BNY Mellon Strategic Municipal Bond Fund were worth $269,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DSM. Park Avenue Securities LLC grew its stake in BNY Mellon Strategic Municipal Bond Fund by 6.3% in the 4th quarter. Park Avenue Securities LLC now owns 162,065 shares of the investment management company’s stock worth $942,000 after acquiring an additional 9,666 shares during the period. Melfa Wealth Management Inc. grew its stake in BNY Mellon Strategic Municipal Bond Fund by 39.5% in the 4th quarter. Melfa Wealth Management Inc. now owns 44,111 shares of the investment management company’s stock worth $256,000 after acquiring an additional 12,500 shares during the period. Van ECK Associates Corp grew its stake in BNY Mellon Strategic Municipal Bond Fund by 5.8% in the 4th quarter. Van ECK Associates Corp now owns 419,830 shares of the investment management company’s stock worth $2,439,000 after acquiring an additional 23,135 shares during the period. Wolverine Asset Management LLC grew its stake in BNY Mellon Strategic Municipal Bond Fund by 229.1% in the 4th quarter. Wolverine Asset Management LLC now owns 35,568 shares of the investment management company’s stock worth $207,000 after acquiring an additional 24,761 shares during the period. Finally, Ackerman Capital Advisors LLC boosted its holdings in shares of BNY Mellon Strategic Municipal Bond Fund by 25.9% in the 4th quarter. Ackerman Capital Advisors LLC now owns 147,644 shares of the investment management company’s stock valued at $858,000 after purchasing an additional 30,362 shares during the last quarter.

BNY Mellon Strategic Municipal Bond Fund Trading Up 0.3%

Shares of DSM opened at $5.76 on Monday. The company’s fifty day moving average is $5.70 and its two-hundred day moving average is $5.86. BNY Mellon Strategic Municipal Bond Fund, Inc. has a fifty-two week low of $5.28 and a fifty-two week high of $6.38.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, May 30th. Shareholders of record on Wednesday, May 14th will be issued a $0.018 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.75%.

Insider Buying and Selling at BNY Mellon Strategic Municipal Bond Fund

In related news, major shareholder Saba Capital Management, L.P. purchased 5,267 shares of the firm’s stock in a transaction on Tuesday, April 15th. The shares were bought at an average price of $5.48 per share, for a total transaction of $28,863.16. Following the acquisition, the insider now directly owns 5,146,241 shares in the company, valued at $28,201,400.68. This trade represents a 0.10% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link.

BNY Mellon Strategic Municipal Bond Fund Profile

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.