Closed End Fund Advisors Inc. Acquires Shares of 100,339 BNY Mellon Strategic Municipal Bond Fund, Inc. $DSM

Closed End Fund Advisors Inc. acquired a new stake in shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 100,339 shares of the investment management company’s stock, valued at approximately $619,000. Closed End Fund Advisors Inc. owned 0.20% of BNY Mellon Strategic Municipal Bond Fund at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DSM. Invesco Ltd. increased its position in BNY Mellon Strategic Municipal Bond Fund by 231.3% during the 2nd quarter. Invesco Ltd. now owns 137,174 shares of the investment management company’s stock valued at $768,000 after purchasing an additional 95,769 shares during the period. Cerity Partners LLC purchased a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 2nd quarter worth about $56,000. Karpus Management Inc. grew its position in shares of BNY Mellon Strategic Municipal Bond Fund by 3,220.3% in the 2nd quarter. Karpus Management Inc. now owns 856,403 shares of the investment management company’s stock worth $4,796,000 after buying an additional 830,610 shares during the period. Bank of America Corp DE grew its position in shares of BNY Mellon Strategic Municipal Bond Fund by 7,654.0% in the 2nd quarter. Bank of America Corp DE now owns 73,353 shares of the investment management company’s stock worth $411,000 after buying an additional 72,407 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in shares of BNY Mellon Strategic Municipal Bond Fund by 51.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 42,860 shares of the investment management company’s stock worth $240,000 after buying an additional 14,630 shares during the period.

BNY Mellon Strategic Municipal Bond Fund Stock Down 0.3%

NYSE:DSM opened at $6.10 on Friday. The firm’s 50-day moving average price is $6.05 and its 200-day moving average price is $6.07. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 1-year low of $5.45 and a 1-year 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. Stockholders of record on Thursday, June 11th will be given a $0.03 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. This is a boost from BNY Mellon Strategic Municipal Bond Fund’s previous monthly dividend of $0.03.

BNY Mellon Strategic Municipal Bond Fund 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.