Insider Buying: BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Major Shareholder Acquires 5,267 Shares of Stock

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) major shareholder Saba Capital Management, L.P. acquired 5,267 shares of the business’s stock in a transaction on Tuesday, April 15th. The shares were purchased at an average price of $5.48 per share, with a total value of $28,863.16. Following the completion of the purchase, the insider now owns 5,146,241 shares in the company, valued at $28,201,400.68. This represents a 0.10 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

BNY Mellon Strategic Municipal Bond Fund Stock Up 0.6 %

Shares of NYSE:DSM opened at $5.52 on Friday. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 1 year low of $5.28 and a 1 year high of $6.38. The business’s 50 day moving average price is $5.81 and its 200-day moving average price is $5.92.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 14th will be paid a dividend of $0.018 per share. The ex-dividend date is Monday, April 14th. This represents a $0.22 annualized dividend and a yield of 3.92%.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

A number of large investors have recently modified their holdings of the business. Elequin Capital LP purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the fourth quarter worth about $36,000. Landscape Capital Management L.L.C. purchased a new position in BNY Mellon Strategic Municipal Bond Fund in the 4th quarter worth approximately $84,000. CJM Wealth Advisers Ltd. acquired a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the 1st quarter worth approximately $86,000. Janney Montgomery Scott LLC purchased a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the first quarter valued at approximately $111,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the fourth quarter valued at approximately $177,000.

About BNY Mellon Strategic Municipal Bond Fund

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.