BNY Mellon Strategic Municipal Bond Fund (NYSE:DSM) Director Bradley Skapyak Purchases 1,894 Shares of Stock

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Director Bradley Skapyak bought 1,894 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was acquired at an average cost of $6.09 per share, with a total value of $11,534.46. Following the transaction, the director owned 1,894 shares of the company’s stock, valued at $11,534.46. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

BNY Mellon Strategic Municipal Bond Fund Stock Up 0.5%

Shares of BNY Mellon Strategic Municipal Bond Fund stock opened at $6.12 on Wednesday. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 12 month low of $5.45 and a 12 month high of $6.30. The business has a fifty day simple moving average of $6.06 and a 200-day simple moving average of $6.07.

BNY Mellon Strategic Municipal Bond Fund Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, June 11th will be issued a dividend of $0.03 per share. This is a positive change from BNY Mellon Strategic Municipal Bond Fund’s previous monthly dividend of $0.03. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Thursday, June 11th.

Institutional Trading of BNY Mellon Strategic Municipal Bond Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Karpus Management Inc. grew its stake 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 valued at $4,796,000 after buying an additional 830,610 shares in the last quarter. Rivernorth Capital Management LLC grew its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 98.7% in the 1st quarter. Rivernorth Capital Management LLC now owns 1,660,357 shares of the investment management company’s stock valued at $9,979,000 after buying an additional 824,765 shares in the last quarter. Bulldog Investors LLP grew its stake in shares of 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 buying an additional 683,653 shares in the last quarter. Guggenheim Capital LLC grew its stake in shares of 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 buying an additional 278,303 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in BNY Mellon Strategic Municipal Bond Fund in the fourth quarter worth approximately $1,234,000.

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.