Bradley Skapyak Purchases 1,894 Shares of BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Stock

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Director Bradley Skapyak bought 1,894 shares of the business’s stock in a transaction on Monday, June 8th. The shares were acquired at an average cost of $6.09 per share, with a total value of $11,534.46. Following the purchase, the director owned 1,894 shares of the company’s stock, valued at $11,534.46. The trade was a ∞ increase in their ownership of the stock. The transaction 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

DSM stock opened at $6.14 on Thursday. The business has a fifty day moving average of $6.07 and a two-hundred day moving average of $6.07. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 52-week low of $5.45 and a 52-week high of $6.30.

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 paid a dividend of $0.03 per share. This represents a c) annualized dividend and a yield of 5.9%. This is a positive change from BNY Mellon Strategic Municipal Bond Fund’s previous monthly dividend of $0.03. The ex-dividend date of this dividend is Thursday, June 11th.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Closed End Fund Advisors Inc. acquired a new stake in BNY Mellon Strategic Municipal Bond Fund during the fourth quarter worth $619,000. Bulldog Investors LLP increased its stake in BNY Mellon Strategic Municipal Bond Fund by 26.0% during the fourth quarter. Bulldog Investors LLP now owns 3,308,091 shares of the investment management company’s stock worth $20,411,000 after acquiring an additional 683,653 shares during the last quarter. Karpus Management Inc. increased its stake in BNY Mellon Strategic Municipal Bond Fund by 3,220.3% during the second quarter. Karpus Management Inc. now owns 856,403 shares of the investment management company’s stock worth $4,796,000 after acquiring an additional 830,610 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in BNY Mellon Strategic Municipal Bond Fund during the fourth quarter worth $1,234,000. Finally, Bank of America Corp DE increased its stake in BNY Mellon Strategic Municipal Bond Fund by 7,654.0% during the second quarter. Bank of America Corp DE now owns 73,353 shares of the investment management company’s stock worth $411,000 after acquiring an additional 72,407 shares during the last quarter.

BNY Mellon Strategic Municipal Bond Fund Company Profile

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.