BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Shares Will Pay Monthly Dividend of $0.03

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) declared a monthly dividend on Tuesday, September 29th. Shareholders of record on Wednesday, October 14th will be paid a dividend of $0.03 per share by the investment management company on Friday, October 30th. This represents a $0.36 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Wednesday, October 14th.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

NYSE:DSM opened at $5.12 on Wednesday. The stock’s 50 day moving average price is $5.71 and its 200 day moving average price is $5.94. BNY Mellon Strategic Municipal Bond Fund has a 52 week low of $5.07 and a 52 week high of $6.30.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DSM. Robinson Capital Management LLC raised its position in shares of BNY Mellon Strategic Municipal Bond Fund by 9.8% in 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 period. Readystate Asset Management LP acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the second quarter valued at about $88,000. Rivernorth Capital Management LLC lifted its position in shares of BNY Mellon Strategic Municipal Bond Fund by 15.7% in 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 acquiring an additional 260,230 shares during the period. Van ECK Associates Corp boosted its stake in BNY Mellon Strategic Municipal Bond Fund by 1.6% during 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 in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in BNY Mellon Strategic Municipal Bond Fund by 87.7% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 1,476,212 shares of the investment management company’s stock valued at $9,079,000 after acquiring an additional 689,844 shares during the period.

BNY Mellon Strategic Municipal Bond Fund Company Profile

BNY Mellon Strategic Municipal Bond Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol DSM. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in municipal bonds and other municipal obligations.

The fund’s portfolio may include debt issued by states, cities, counties, and other governmental entities, as well as related public authorities. These securities generally finance public infrastructure and essential services, including schools, transportation systems, utilities, and healthcare facilities.