AQR Arbitrage LLC Has $1.11 Million Position in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM)

AQR Arbitrage LLC cut its holdings in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) by 37.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 190,615 shares of the investment management company’s stock after selling 114,404 shares during the quarter. AQR Arbitrage LLC’s holdings in BNY Mellon Strategic Municipal Bond Fund were worth $1,107,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. acquired a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 4th quarter valued at $84,000. Mercer Global Advisors Inc. ADV bought a new position in BNY Mellon Strategic Municipal Bond Fund during the fourth quarter valued at about $177,000. Wolverine Asset Management LLC lifted its position in shares of BNY Mellon Strategic Municipal Bond Fund by 229.1% in the fourth quarter. Wolverine Asset Management LLC now owns 35,568 shares of the investment management company’s stock worth $207,000 after buying an additional 24,761 shares during the last quarter. Melfa Wealth Management Inc. boosted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 39.5% during 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 in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the 4th quarter valued at about $343,000.

BNY Mellon Strategic Municipal Bond Fund Price Performance

Shares of DSM stock opened at $5.69 on Friday. The stock’s 50 day simple moving average is $5.74 and its 200 day simple moving average is $5.88. BNY Mellon Strategic Municipal Bond Fund, Inc. has a twelve month low of $5.28 and a twelve month high of $6.38.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, May 30th. Stockholders of record on Wednesday, May 14th will be given a $0.018 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Wednesday, May 14th.

Insider Transactions at BNY Mellon Strategic Municipal Bond Fund

In other BNY Mellon Strategic Municipal Bond Fund news, major shareholder Saba Capital Management, L.P. acquired 5,267 shares of the company’s stock in a transaction dated Tuesday, April 15th. The shares were acquired at an average cost of $5.48 per share, for a total transaction of $28,863.16. Following the completion of the purchase, the insider now owns 5,146,241 shares of the company’s stock, valued at approximately $28,201,400.68. This trade represents a 0.10 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

BNY Mellon Strategic Municipal Bond Fund Company 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.