Rivernorth Capital Management LLC Buys 824,765 Shares of BNY Mellon Strategic Municipal Bond Fund, Inc. $DSM

Rivernorth Capital Management LLC increased its stake in shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) by 98.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,660,357 shares of the investment management company’s stock after buying an additional 824,765 shares during the quarter. Rivernorth Capital Management LLC’s holdings in BNY Mellon Strategic Municipal Bond Fund were worth $9,979,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC bought a new position in shares of BNY Mellon Strategic Municipal Bond Fund during the 2nd quarter valued at approximately $56,000. Nomura Holdings Inc. purchased a new position in BNY Mellon Strategic Municipal Bond Fund in the third quarter valued at approximately $74,000. BOKF NA bought a new position in BNY Mellon Strategic Municipal Bond Fund during the fourth quarter valued at $79,000. Janney Montgomery Scott LLC grew its holdings in BNY Mellon Strategic Municipal Bond Fund by 22.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,331 shares of the investment management company’s stock valued at $95,000 after purchasing an additional 2,765 shares during the period. Finally, Novak & Powell Financial Services Inc. purchased a new stake in BNY Mellon Strategic Municipal Bond Fund in the fourth quarter worth $111,000.

BNY Mellon Strategic Municipal Bond Fund Stock Performance

Shares of DSM opened at $5.90 on Wednesday. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 1 year low of $5.46 and a 1 year high of $6.30. The stock’s fifty day moving average price is $6.08 and its two-hundred day moving average price is $6.09.

BNY Mellon Strategic Municipal Bond Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 14th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, July 14th. This represents a c) annualized dividend and a yield of 6.1%.

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.