Saba Capital Management, L.P. Purchases 5,267 Shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Stock

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

BNY Mellon Strategic Municipal Bond Fund Price Performance

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

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The firm also recently declared 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. This represents a $0.22 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Monday, April 14th.

Institutional Investors Weigh In On BNY Mellon Strategic Municipal Bond Fund

A number of hedge funds have recently made changes to their positions in DSM. Elequin Capital LP purchased a new position in BNY Mellon Strategic Municipal Bond Fund in the 4th quarter worth $36,000. Landscape Capital Management L.L.C. bought a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the fourth quarter valued at about $84,000. CJM Wealth Advisers Ltd. purchased a new position in shares of BNY Mellon Strategic Municipal Bond Fund in the first quarter worth about $86,000. Janney Montgomery Scott LLC bought a new stake in shares of BNY Mellon Strategic Municipal Bond Fund in the 1st quarter valued at about $111,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in BNY Mellon Strategic Municipal Bond Fund during the 4th quarter valued at about $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.