BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) to Issue $0.03 Monthly Dividend

BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) announced a monthly dividend on Friday, August 28th. Stockholders of record on Monday, September 14th will be given a dividend of 0.03 per share by the investment management company on Thursday, October 1st. This represents a c) annualized dividend and a dividend yield of 6.5%. The ex-dividend date is Monday, September 14th.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

Shares of NYSE DSM opened at $5.58 on Friday. The stock has a fifty day moving average price of $5.88 and a 200 day moving average price of $6.00. BNY Mellon Strategic Municipal Bond Fund has a 12-month low of $5.56 and a 12-month high of $6.30.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

A number of hedge funds have recently bought and sold shares of DSM. Thomas J. Herzfeld Advisors Inc. increased its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 0.7% in the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 341,091 shares of the investment management company’s stock worth $2,105,000 after buying an additional 2,512 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in BNY Mellon Strategic Municipal Bond Fund by 22.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 15,331 shares of the investment management company’s stock worth $95,000 after acquiring an additional 2,765 shares in the last quarter. Noble Wealth Management PBC increased its position in shares of BNY Mellon Strategic Municipal Bond Fund by 7.2% in the 2nd quarter. Noble Wealth Management PBC now owns 65,733 shares of the investment management company’s stock worth $404,000 after purchasing an additional 4,400 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 1.2% in the 4th quarter. Wells Fargo & Company MN now owns 404,626 shares of the investment management company’s stock valued at $2,497,000 after purchasing an additional 4,692 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 15.9% in the 4th quarter. HighTower Advisors LLC now owns 42,452 shares of the investment management company’s stock valued at $262,000 after purchasing an additional 5,833 shares in the last quarter.

About BNY Mellon Strategic Municipal Bond Fund

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.