BNY Mellon Strategic Municipal Bond Fund, Inc. $DSM Shares Bought by Sit Investment Associates Inc.

Sit Investment Associates Inc. raised its stake in BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) by 11.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,862,381 shares of the investment management company’s stock after buying an additional 195,867 shares during the period. Sit Investment Associates Inc. owned approximately 3.71% of BNY Mellon Strategic Municipal Bond Fund worth $11,491,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Saba Capital Management L.P. boosted its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 0.5% during the 4th quarter. Saba Capital Management L.P. now owns 5,179,441 shares of the investment management company’s stock worth $31,957,000 after acquiring an additional 26,850 shares in the last quarter. Pathstone Holdings LLC increased its stake in BNY Mellon Strategic Municipal Bond Fund by 2.1% in the 3rd quarter. Pathstone Holdings LLC now owns 3,559,421 shares of the investment management company’s stock valued at $21,072,000 after purchasing an additional 73,309 shares in the last quarter. Bulldog Investors LLP increased its stake in BNY Mellon Strategic Municipal Bond Fund by 26.0% in the 4th quarter. Bulldog Investors LLP now owns 3,308,091 shares of the investment management company’s stock valued at $20,411,000 after purchasing an additional 683,653 shares in the last quarter. Guggenheim Capital LLC increased its stake in BNY Mellon Strategic Municipal Bond Fund by 29.0% in the 4th quarter. Guggenheim Capital LLC now owns 1,239,418 shares of the investment management company’s stock valued at $7,647,000 after purchasing an additional 278,303 shares in the last quarter. Finally, Almitas Capital LLC raised its holdings in BNY Mellon Strategic Municipal Bond Fund by 8.8% during the fourth quarter. Almitas Capital LLC now owns 926,301 shares of the investment management company’s stock worth $5,715,000 after purchasing an additional 75,214 shares during the last quarter.

BNY Mellon Strategic Municipal Bond Fund Trading Up 0.2%

DSM opened at $6.12 on Friday. BNY Mellon Strategic Municipal Bond Fund, Inc. has a one year low of $5.45 and a one year high of $6.30. The business’s fifty day moving average is $6.09 and its two-hundred day moving average is $6.08.

BNY Mellon Strategic Municipal Bond Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th will be paid a dividend of $0.03 per share. This is a boost 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. This represents a c) annualized dividend and a dividend yield of 5.9%.

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.